**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)

**More MCQs on Cost Accounting**

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