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 MCQs are designed in a way that students could better understand the exam format and get used to practice online. This approach will reduce exam stress and enable students to prepare better.

We request the students, Not to solve the MCQs until they have learned and finished the entire F2 (MA/FMA) Management Accounting Chapter 13 – Standard costing and Syllabus Area Part-E “Standard costing”.

All the questions are compulsory, so do not skip any.


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

Syllabus Area

These Multiple Choice Questions (MCQs) cover the Syllabus Area Part E of the Syllabus; Standard costing of ACCA F2 (MA/FMA) Management Accounting Module.


These multiple-choice questions (MCQs) are not timed, allowing students to solve them without feeling any pressure and to pay proper attention to the questions.


Students can see their result at the end of the Quiz. They can also be able to see the number of correct and wrong questions. Moreover, the explanation of wrong questions.

Types of Questions

MCQs: Choose one from the given options.
Multiple choice: Choose all those answers which seem correct/ or incorrect to you, as per the requirement of the question. Keep your eye on the wording “(select all those which are correct/ or incorrect)“.
Drop-down: 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
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


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1 / 7

What is an attainable standard?

2 / 7

Which of the following statements is correct?

3 / 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

4 / 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

5 / 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?


6 / 7

Which of the following best describes management by exception?

7 / 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?


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