6 Questions
What is the result of subtracting the variable cost per unit from the selling price per unit?
Contribution
What is the difference between the standard cost and the actual cost, if the standard cost is lower?
Variance
Which of the following is not a component of prime cost?
Royalty charge
What is the cost per unit that increases or decreases when the volume of output increases or decreases?
Variable cost
What is the difference between the actual quantity and the standard quantity, multiplied by the standard price?
Material variance
A company has a contribution to sales ratio of 20%. If the total sales of the company are ₹7,80,000, how much is the profit?
₹64, 500
Test your understanding of cost analysis and profitability concepts in managerial accounting, including profit-volume ratio, standard cost, and variable cost. Evaluate your knowledge of calculating profit and making informed business decisions.
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