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 -   

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