What Do You Know About Analysis Of Variance? Trivia Quiz

10 Questions | Total Attempts: 133

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What Do You Know About Analysis Of Variance? Trivia Quiz

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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