MCQs on Cost Accounting -22

1. Idle time variance is………….

(A) Idle time x actual labour
(B) Idle time x standard rate
(C) Idle time x budgeted labour rate
(D) Idle time x historical cost


2. Volume variance is divided into……………

(A) Capacity variance, calendar variance andExpenditure variance
(B) Capacity variance, calendar variance and efficiency variance
(C) Capacity variance, expenditure variance and efficiency variance
(D) Calendar variance, expenditure variance and efficiency variance


3. Standards set provide yardsticks against which………….are compared

(A) Budgeted costs
(B) Estimated costs
(C) Actual costs
(D) None of these


4. The technique of standard costing may not be applicable in case of

(A) Large concerns
(B) Small concerns
(C) All concerns
(D) Both b & c



5. Total Material cost variance =

(A) Standard cost of materials-actual cost of materials
(B) Budgeted cost of materials- actual cost of materials
(C) Standard cost of materials-budgeted cost of materials
(D) Actual cost of materials- budgeted cost of materials



6. Material Usage Variance=Material Mix Variance +…………..

(A) Material Yield Variance
(B) Material cost variance
(C) Material price variance
(D) Material quantity variance



7. Material Price Variance = Actual Usage (……………)

(A) Standard price
(B) Standard unit price-actual unit price
(C) Actual price
(D) Standard usage


8. Material usage variance = standard price(……………….)

(A) Standard usage-actual usage
(B) Standard unit price-actual unit price
(C) Standard quantity
(D) Actual quantity



9. Material mix variance = standard cost of standard mix - ………………..

(A) Actual cost of actual mix
(B) Actual cost of standard mix
(C) Standard cost of actual mix
(D) Standard cost of budgeted mix


10. Total Labour cost variance =

(A) Standard cost of labour - actual cost of labour
(B) Standard rate(standard time for actual output-actual time worked)
(C) Standard rate (standard time for actual output- actual time paid for)
(D) Actual time taken (standard rate-actual rate)




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