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Management Sciences 5307 MCQs [All-Courses]

Management Sciences focuses on the planning, organizing, leading, and controlling of resources to achieve organizational goals.This subject is highly important for competitive exams, academic study, and professional careers in the business and public sectors.

If an actual cost incurred is $627500, the flexible budget amount is $358750, then fixed overhead variance of flexible-budget will be _________?

A $218,750

B $238,750

C $258,750

D $268,750

Review Detailed Answer

Correct Answer: $268,750

The concept, which states that resources are used to meet particular goals is ____________?

A cost incurrence

B valued incurrence

C locked incurrence

D non valued incurrence

Review Detailed Answer

Correct Answer: cost incurrence

The process of ensuring preventive measure to be done in all machines is classified as _________?

A potential price response

B potential cost response

C potential budget response

D potential management response

Review Detailed Answer

Correct Answer: potential management response

An insensitivity of demand in relevance to change in price will be called ___________?

A demand elasticity

B price elasticity

C price inelasticity

D demand inelasticity

Review Detailed Answer

Correct Answer: demand inelasticity

The step of installing production scheduling procedure, to improve plant operations is considered as __________?

A potential cost response

B potential budget response

C potential management response

D potential price response

Review Detailed Answer

Correct Answer: potential management response

An estimated price, which is expected to be paid by customers for particular market offering is classified as __________?

A target price

B target cost

C outsource price

D off shore price

Review Detailed Answer

Correct Answer: target price

An actual quantity of cost allocation base is $56000, budgeted quantity of cost allocation base is $17000, then the variable overhead efficiency variance is ___________?

A $39,000

B $49,000

C $59,000

D $73,000

Review Detailed Answer

Correct Answer: $39,000

The costs that are planned in future and has not been incurred are known as ___________?

A designed-in costs

B locked-in costs

C value added cost

D both a and b

Review Detailed Answer

Correct Answer: designed-in costs

In the budgeted fixed overhead rate, the number of machine hours are considered as _________?

A denominator level

B numerator level

C fixed level

D variable level

Review Detailed Answer

Correct Answer: denominator level

If cost is eliminated, then reducing the perceived usefulness that customers can obtain by using the market offering will come under _____________?

A designed-in costs

B locked-in costs

C value added cost

D non-value added cost

Review Detailed Answer

Correct Answer: value added cost

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

If an actual cost incurred is $627500, the flexible budget amount is $358750, then fixed overhead variance of flexible-budget will be _________?

The concept, which states that resources are used to meet particular goals is ____________?

The process of ensuring preventive measure to be done in all machines is classified as _________?

An insensitivity of demand in relevance to change in price will be called ___________?

The step of installing production scheduling procedure, to improve plant operations is considered as __________?

An estimated price, which is expected to be paid by customers for particular market offering is classified as __________?

An actual quantity of cost allocation base is $56000, budgeted quantity of cost allocation base is $17000, then the variable overhead efficiency variance is ___________?

The costs that are planned in future and has not been incurred are known as ___________?

In the budgeted fixed overhead rate, the number of machine hours are considered as _________?

If cost is eliminated, then reducing the perceived usefulness that customers can obtain by using the market offering will come under _____________?