What Do You Know About Analysis Of Variance? Trivia Quiz
10 Questions
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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
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