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SQA National 5 Accounting Management Accounting quiz quiz

16questions. Pick an answer and you'll see why right away.

  1. Which of these is a fixed cost for a factory?

  2. A variable cost is one that:

  3. Direct materials plus direct labour gives the:

  4. A worker has a 35-hour basic week at £10\pounds 10 per hour and works 5 overtime hours at time-and-a-half. What is the gross wage?

  5. Total fixed costs are £5000\pounds 5000. As output rises from 500 to 1000 units, the fixed cost per unit:

  6. Overheads are absorbed at 50%50\% of direct labour cost. A job has direct labour of £800\pounds 800. What overhead is charged?

  7. Contribution per unit is calculated as:

  8. Fixed costs are £20000\pounds 20000 and contribution is £8\pounds 8 per unit. What is the break-even point in units?

  9. At the break-even point, a business makes:

  10. The margin of safety is:

  11. How many units must be sold for a target profit, with fixed costs £16000\pounds 16000, target profit £8000\pounds 8000 and contribution £6\pounds 6 per unit?

  12. On a break-even chart, the total cost line starts on the vertical axis at the level of:

  13. In a cash budget, the closing balance is calculated as:

  14. Which item would NOT appear in a cash budget?

  15. A business with spare capacity is offered a special order at a price above its variable cost. Fixed costs are already covered. It should usually:

  16. Which is an advantage of preparing a cash budget on a spreadsheet?