Management Accounting MCQ Quiz in বাংলা - Objective Question with Answer for Management Accounting - বিনামূল্যে ডাউনলোড করুন [PDF]
Last updated on Mar 10, 2025
Latest Management Accounting MCQ Objective Questions
Top Management Accounting MCQ Objective Questions
Management Accounting Question 1:
One material is used in the manufacture of product X. The total cost of the material (purchased and used) in a period was $4,000. In the period, the direct material price and usage variances were $200 adverse and $300 favorable respectively and 1,000 units were manufactured.
What is the standard direct material cost per unit for product X?
Answer (Detailed Solution Below)
Management Accounting Question 1 Detailed Solution
Explanation:
Total cost = $4,000
Less the adverse direct material price variance $200 plus the favourable direct material usage variance = $4,100 (total standard material cost)
Total standard cost per unit = $4.10 (4,100 / 1,000)
Management Accounting Question 2:
Last month the opening inventory was 6,000 units and the closing inventory was 4,000 units. Using absorption costing, this closing inventory was valued at $33,000. Using marginal costing last month's profit was $50,000 and using absorption costing it was $41,000.
What was the variable production cost per unit last month?
Answer (Detailed Solution Below)
Management Accounting Question 2 Detailed Solution
Explanation:
Inventory value per unit = $8.25 (33,000 / 4,000)
This value is made up of variable and fixed costs as it was calculated under the absorption costing method.
The difference between marginal and absorption costing profit is fixed cost.
Fixed cost per unit = $4.50 ((50,000 - 41,000) / 2,000)
Variable cost per unit = $3.75 (8.25 - 4.50)
Management Accounting Question 3:
A company manufactures two main products, J and K, and the by-product L. The by-product has a net realisable value of $2 per litre. The following information relates to last month, when there were no opening inventories.
| J | K | L | |
| Litres | Litres | Litres | |
| Production | 50,000 | 40,000 | 10,000 |
| Sales | 45,000 | 30,000 | 10,000 |
Company policy is to apportion joint costs on a physical measure basis and to treat the net realizable value of the by-product as a deduction from the cost of the main products.
What was the cost value of last month's closing inventory of product J?
Answer (Detailed Solution Below)
Management Accounting Question 3 Detailed Solution
Explanation:
Net realisable value of by-product L = $20,000 (10,000 x $2)
Joint costs of products J and K = $270,000 (290,000 - 20,000)
Costs allocated to product J = $150,000 (270,000 x (50,000 / (50,000 + 40,000)))
Production of J = 50,000 litres
Costs allocated to J = $3 per litre ($150,000 / 50,000)
Cost value in product J inventory at the end of the month = $15,000 ($3 x 5,000)
Management Accounting Question 4:
Which of the following defines the prime cost of a product?
Answer (Detailed Solution Below)
Management Accounting Question 4 Detailed Solution
Correct Answer: D
Explanation:
The prime cost of a product is the total of all the direct production costs of the product.
Management Accounting Question 5:
A company used government produced data that showed the economy grew by 4.6% in the last year. Which of the following describes the data used by the company?
Answer (Detailed Solution Below)
Management Accounting Question 5 Detailed Solution
Correct Answer: D
Explanation:
Secondary data are data which have been collected elsewhere for another purpose, but can be adapted. Economic growth can take on any value and therefore is continuous.
Management Accounting Question 6:
The following statements refer to different types of planning in a large organisation:
(1)Strategic planning is concerned with both quantitative and qualitative matters
(2)Tactical planning is concerned with setting long term objectives
(3)Operational planning is concerned with a time horizon starting one year from now
Which of these statement(s) is/are correct?
Answer (Detailed Solution Below)
Management Accounting Question 6 Detailed Solution
Correct Answer: D
Explanation:
Strategic planning is concerned with quantitative and qualitative matters. It also is concerned with setting long term objectives and long term time horizons.
Management Accounting Question 7:
The following data for last month relate to a production process in which no work-in-progress is held:
Input 12,800 litres
Normal loss 4% of input
Output 12,500 litres
What was the abnormal loss or abnormal gain for last month?
Answer (Detailed Solution Below)
Management Accounting Question 7 Detailed Solution
Correct Answer: B
Explanation:
Abnormal gains and losses occur where the output of a process is greater or less than what would be expected after normal losses are applied to inputs.
Actual output = 12,500 litres
Expected output = 12,288 (12,800 x 0.96)
Abnormal gain = 212 litres (12,500 - 12,288)
Management Accounting Question 8:
Which of the following best defines 'opportunity cost'?
Answer (Detailed Solution Below)
Management Accounting Question 8 Detailed Solution
The correct option is option 3
Additional Information:
- It reflects the benefit lost from the next best use of resources.
Management Accounting Question 9:
Which of the following best describes a fixed cost?
Answer (Detailed Solution Below)
Management Accounting Question 9 Detailed Solution
The correct option is option 3
Additional Information:
- Fixed costs do not vary in total with production or sales volume (e.g., rent, salaries).
Management Accounting Question 10:
What is the primary purpose of management accounting?
Answer (Detailed Solution Below)
Management Accounting Question 10 Detailed Solution
The correct option is option 3