Day: September 19, 2023

Accounting Multiple Choice Question – 19 September 2023

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Photo by Olya Kobruseva on Pexels.com

The following data relates to production of a product for a month:

  • quantity produced (units) – 610
  • actual kilos of material used – 4,350 kgs
  • standard kilos of material – 4,270 kgs
  • standard cost per kilo – £9
  • material price variance – £435 Favourable

What was the actual cost of material used?

Select ONE answer:

  1. £38,430
  2. £38,715
  3. £39,150
  4. £39,585

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

  1. Not correct
  2. Correct – £4,350 * £9 – £435
  3. Not correct
  4. Not correct

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