F2 (MA/FMA) – Chapter 13 – PART E – CBE MCQs – ACCA

These are ACCA F2 (MA/FMA) Management Accounting MCQs for Part-E of the Syllabus “Standard costing”.

These multiple-choice questions (MCQs) are designed to help ACCA F2 (MA) students to better understand the exam format. We aim to instill in students the habit of practicing online for their CBE exams. By doing so, students can reduce exam stress and prepare more effectively.

INFORMATION ABOUT THESE MCQs Test

Course: ACCA – Associations of Chartered Certified Accountants
Fundamental Level: Knowledge, FIA – Foundation in Accounting
Subject: Management Accounting
Paper: F2 – MA/FMA
Chapter: Standard costing
Chapter Number: 13 of the Practice and Exam Kit
Syllabus Area: E – Standard costing
Questions Type: CBE MCQs
Exam Section Type: Section A

Benefits of Practicing Online on AGlobalBox.com

  1. Authentic Exam Experience:
    Practicing online allows ACCA students to experience an environment closely resembling the actual exam. The MCQs on our platform are designed to mirror the format, difficulty level, and question types found in ACCA exams. This familiarity helps students become more comfortable and confident when facing the real exam.
  2. Comprehensive Question Bank:
    We provided comprehensive question banks covering various topics across the syllabus. By practicing online, students gain access to a wide range of MCQs that thoroughly test their knowledge and understanding in each area.
  3. Enhanced Learning and Retention:
    The interactive nature of online practice enhances learning and improves information retention. Students can actively engage with the MCQs, select answers, and receive immediate results. This approach aids in reinforcing concepts and identifying areas that require further study, thereby maximizing learning outcomes.
  4. Time Management Skills:
    Practicing online helps students develop essential time management skills required for ACCA exams. By adhering to time limits while answering MCQs, students learn to allocate their time effectively and improve their speed and accuracy. This skill is invaluable for completing the actual exam within the given time constraints.
  5. Performance Tracking and Progress Evaluation:
    Students can monitor their results, track their strengths and weaknesses, and identify areas that need improvement.

Number of the Questions

There are 7 Questions in this F2 MCQ Test that cover Chapter 13; Standard costing of ACCA F2 (MA/FMA) Management Accounting Module.

Time

This MCQs test is not time-bound. Take your time and solve them without stress. Pay proper attention and focus. Do not rush or hesitate.

Result

Students will get their F2 CBE MCQ result after they finish the entire test. They will also be able to see the score in percentage, correct and incorrect answers, as well as explanations for the incorrect questions.

Types of Questions

MCQs: Choose one from the given options.
Multiple choice: Choose all answers that seem correct or incorrect, as per the requirement of the question. Keep your eye on the wording “(select all those which are correct/ or incorrect)”.
Dropdown: Select from the list provided.
Type numbers: Type your answer in numbers as per the requirement of the question.


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F2 - Chapter 13 - Part A - MCQs

Course: ACCA - FIA
Subject:
F2 (MA/FMA) Management Accounting
Chapter: 13 - Standard costing
Syllabus Area: E - Standard costing
Exam Section: Section A
Questions type: MCQs
Time: No Time Limit

INSTRUCTIONS

  1. If you are using mobile, turn on the mobile rotation and solve the MCQs on wide screen for better experience.

REQUEST

  1. Please rate the quiz and give us feedback once you completed the quiz.
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1 / 7

Which of the following best describes management by exception?

2 / 7

A company is in the process of setting standard unit costs for next period. Product J uses two types of material, P and 7 kg of material P and 3 kg of material S are needed, at a standard price of $4 per kg and $9 per kg respectively.

Direct labour will cost $7 per hour and each unit of J requires 5 hours of labour.

Production overheads are to be recovered at the rate of $6 per direct labour hour, and general overhead is to be absorbed at a rate of ten per cent of production cost.

What is the standard prime cost for one unit of product J?

$_______

3 / 7

Which of the following statements is correct?

4 / 7

What is an attainable standard?

5 / 7

A company manufactures a carbonated drink, which is sold in 1 litre bottles. During the bottling process there is a 20% loss of liquid input due to spillage and evaporation.

What is the standard usage of liquid per bottle (to two decimal places)?

_____ litres

6 / 7

A unit of product L requires 9 active labour hours for The performance standard for product L allows for ten per cent of total labour time to be idle, due to machine downtime. The standard wage rate is $9 per hour.

What is the standard labour cost per unit of product L?

$_______

7 / 7

Standard costing provides which of the following?

  1. Targets and measures of performance
  2. Information for budgeting
  3. Simplification of inventory control systems
  4. Actual future costs

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