Exam Questions With Correct Answers

D101 /




Exam Questions With Correct Answers
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CVP /
/analysis /


/equation //- //CORRECT //ANSWERS(S)✔✔Sales //- //Variable //costs //- //Fixed //costs //= //Net //income.




Sales //- //(Sales //* //VC //Ratio) //- //FC



(CVP) //B/E //in //Units //- //CORRECT //ANSWERS(S)✔✔FC/CM //per //Unit //= //B/E //in //Units



(CVP) //B/E //in //$ //- //CORRECT //ANSWERS(S)✔✔FC/CM //Ratio //= //B/E //in //$



(CVP) //B/E //in //$ //- //Mixed //Sales //- //CORRECT //ANSWERS(S)✔✔FC/Avg //CM //Ratio //= //B/E //in //$



Contribution //Margin //- //CORRECT //ANSWERS(S)✔✔=Sales //- //Variable //Costs



CM //Ratio //- //CORRECT //ANSWERS(S)✔✔=Contribution //Margin /// //Sales



Average //CM //Ratio //- //CORRECT //ANSWERS(S)✔✔= //Total //CM/Total //Sales



Margin //of //Safety //- //CORRECT //ANSWERS(S)✔✔= //Current //Sales //- //B/E //Sales



Operating //Leverage //- //CORRECT //ANSWERS(S)✔✔= //CM /// //OI



-If //sales //increase //X% //then //OI //increases //OL*X

, Materials /
/Price /


/Variance //(MPV) //- //CORRECT //ANSWERS(S)✔✔= //(Std //Price //- //Act //Price) //* //Qty //Purchased




Materials /
/Quantity //Variance //(MQV) //- //CORRECT //ANSWERS(S)✔✔= //(Std //Qty //- //Act //Qty) //* //Std //Price




Labor /
/Rate //Variance //(LRV) //- //CORRECT //ANSWERS(S)✔✔= //(Std //Rate //- //Act //Rate) //* //Act //Hours




Labor /
/Efficiency /


/Variance //(LEV) //- //CORRECT //ANSWERS(S)✔✔= //(Std //Hours //- //Act //Hours) //* //Std //Rate




Variable /
/Overhead /


/Efficiency //Variance //- //CORRECT //ANSWERS(S)✔✔= //(Allotted //Hours //- //Act //Hours) //* //Std //Rate




-Allotted //Hours //= //last //years //qty //of //units //produced //* //hours //per //unit



Variable /
/Overhead //Spending //Variance //- //CORRECT //ANSWERS(S)✔✔= //Allotted //MOH //- //Actual //MOH




-Allotted //MOH //= //Std //Rate //* //Act //Hours



Predetermined /
/Overhead /


/Rate //- /


/CORRECT /