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Management Accounting Fundamentals Test
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Management Accounting Fundamentals Test
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25 Questions

1. What is the equation to calculate a difference in variance analysis?
2. The contribution margin (CM) is calculated by deducting all the .................... costs from sales?
3. If a budgeted expense for the month was $100 and the actual was $110
4. Which of the following is NOT a type of internal benchmark?
5. What expenses are NOT included in fixed factory overhead?
6. The management accounting function produces a variety of financial reports set by the needs of management.
7. True or False: While depreciation does not result in a payment of cash
8. Manufacturing costs typically consist of ...?
9. Which of the following would NOT be treated as a period cost in management accounting?
10. Which of the following correctly completes the statement: Capital budgets are ...?
11. True or False: Decreasing a company's fixed expenses should reduce the break-even point.
12. If sales are 100
13. Malik makes plastic windows and doors. Which one of the following is likely to be a Fixed Cost?
14. Which of the following would NOT be a feature of 'bottom up' budgeting?
15. rightanswer•#8226; Margin costing
16. True or False: The standard cost of direct materials is the cost the manufacturer should have used to make the good output.
17. If a product cost $50 and the required mark-up was 50%
18. The time value of money primarily focuses on ...?
19. True or False: Payback period in capital budgeting refers to the period of time required for the return on an investment to 'repay' the sum of the original investment.
20. Which of the following specifically describes an 'expense' rather than a 'cost'?
21. If contribution margin is 10000 and fixed expense is 8000
22. Managment accounting is LEAST concerned with which of the following?
23. Which option below correctly completes the statement: Involvement in the budgeting process should _____.
24. How do you calculate the margin of safety?
25. True or False: If a company requires a profit of $30

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