The Analysis Of Variance (anova) Test

10 Questions

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The Analysis Of Variance (anova) Test

The analysis of variance (ANOVA) is an accumulation of statistical models and their related methodologies used to dissect the distinctions among gather implies. Take this test to assess your knowledge of ANOVA.


Questions and Answers
  • 1. 
    Which of these is described as "when actual price is lesser or higher than sales price?"
    • A. 

      Sales quantity variance

    • B. 

      Sales mix variance

    • C. 

      Sales price variance

    • D. 

      Sales volume variance

  • 2. 
    Sales margin variance is classified into how many parts?
    • A. 

      1

    • B. 

      2

    • C. 

      3

    • D. 

      4

  • 3. 
    Which department takes corrective actions after the analysis of variance?
    • A. 

      Management

    • B. 

      Cost accountancy

    • C. 

      Customers

    • D. 

      None

  • 4. 
    Analysis of overhead variance can be done through all of the following methods except...
    • A. 

      Five variance method

    • B. 

      Four variance method

    • C. 

      Three variance method

    • D. 

      Two variance method

  • 5. 
    Which amongst the following variance is also known as Gang composition variance?
    • A. 

      Labour

    • B. 

      Labour efficiency variance

    • C. 

      Labour mix variance

    • D. 

      Labour cost variance

  • 6. 
    When the actual output is more than the budgeted output, then the volume variance is....
    • A. 

      Not impacted

    • B. 

      Negative

    • C. 

      Favorable

    • D. 

      Non-favorable

  • 7. 
    What is another name for labour efficiency variance?
    • A. 

      Labour usage variance

    • B. 

      Labour quantity variance

    • C. 

      Labour time variance

    • D. 

      All of the above

  • 8. 
    Which of these conditions is responsible for idle time variance?
    • A. 

      Time lost due to unforseen conditions

    • B. 

      Only one grade of labour is used

    • C. 

      Both a and b

    • D. 

      None of the above

  • 9. 
    What should be calculated if process loss is not given?
    • A. 

      Material yield variance

    • B. 

      Material sub-usage variance

    • C. 

      Time

    • D. 

      All of the above

  • 10. 
    Another name for Material sub-usage variance is...
    • A. 

      Revised quantity variance

    • B. 

      Material revised usage

    • C. 

      A and B

    • D. 

      None of the above