In cost accounting, purpose of variance analysis is to:

Related MCQs

• During the month of March, 560 kg of material was purchased at a total cost of Rs. 15,904. The stock of material increased by 15 kg. it is the company’s policy to value the stocks at standard purchase price. If the material price variance was Rs. 224 (A), the standard price per kg. of material is :
• MSE Manufacturing gives you the following details. Standard Price per kg of Material Rs. 2, Actual Material used 2,000 kg, Actual cost of Material Rs. 3,000. Actual output 2,100 kg. Compute Material Price Variance.
• AB company budgets for fixed overhead of Rs. 24,000 and Production of 4800 units. Actual Production is 4200 units. If fixed overhead cost increased is Rs. 22,000, the Fixed overhead volume variance will be
• Despite the development of Management Accounting as an effective discipline to improve the managerial performance, it has some limitations. Which of the following is a limitation of management accounting?
• Management Accounting is concerned with accounting information, which is useful to the management — This definition is given by ______________.
• If standard hours are 400 @ Rs. 1 per hour and actual hours are 380 @ Rs. 1.25 per hour, the labour rate variance is:
• Which of the following departments is most likely responsible for a price variance in direct materials?
• Idle time variance is always:
• Which among the below is the reason behind Material Price Variance:
• In a factory Standard rate per hour Rs. 4, Standard time per unit of output – 20 hours, Units produced - 500, Actual hours worked - 12,000. Compute Labour Efficiency Variance.