MCQ for CA Intermediate COSTING - Chapter 13 - STANDARD COSTING

Sample Multiple Choice Questions (MCQ's) for CA Intermediate - Paper 1 - COST AND MANAGEMENT ACCOUNTING - Chapter 13: STANDARD COSTING - For Practice relevant for May/November 23 Examinations

 

Q1. Under standard cost system the cost of the product determined at the beginning of production is its:

  1. Direct cost
  2. Pre-determined cost
  3. Historical cost
  4. Actual cost

Answer: 2

Q2. The deviations between actual and standard cost is known as: 

  1. Multiple analysis
  2. Variable cost analysis
  3. Variance analysis
  4. Linear trend analysis

Answer: 3

Q3. The standard which is attainable under favourable conditions is: 

  1. Theoretical standard
  2. Expected standard
  3. Normal standard
  4. Basic standard

Answer: 1

Q4. The standard most suitable from cost control point of view is: 

  1. Normal standard
  2. Theoretical standard
  3. Expected standard
  4. Basic standard

Answer: 3

Q5. Which of the following variance arises when more than one material is used in the manufacture of a product: 

  1. Material price variance
  2. Material usage variance
  3. Material yield variance
  4. Material mix variance

Answer: 4

Q6. Controllable variances are best disposed-off by transferring to: 

  1. Cost of goods sold
  2. Cost of goods sold and inventories
  3. Inventories of work–in–progress and finished goods
  4. Costing profit and loss account

Answer: 4

 

CA Intermediate COSTING - MCQ for Chapter 14 -   

To get back to the Chapterwise MCQ List Page       

Hope you can find this article helpful. If you did like the content then Share it with your friends who are preparing for CA Inter Exams or who will be giving their CA Inter Exams in the near future.