CIMA CIMAPRO19-P01-1 Actual Free Exam Questions & Community Discussion
Assume that you have made profit calculations based on standard profit calculation methods and activity based costing methods.
In which ways will this information be beneficial to the management team?
Select all the true statements.
In which ways will this information be beneficial to the management team?
Select all the true statements.
Correct Answer: B,C,D
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When preparing data for a short term decision, which THREE of the following are relevant costs?
Correct Answer: A,B,D
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A company manufactures two products and has two production constraints.
When the graphical approach to linear programming is used, the axes of the graph will show:
When the graphical approach to linear programming is used, the axes of the graph will show:
Correct Answer: D
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A museum charges a reduced entrance fee for students in full-time education. The budgeted cost per customer is the same regardless of the entrance fee paid.
4,000 customers were budgeted to visit the museum during period 6, with 25% of customers paying the reduced fee.
3,000 customers visited the museum during period 6 and 1,000 of these paid the reduced entrance fee.
Costs were as budgeted but the actual full-priced entrance fee was $2 higher than budgeted.
Which of the following statements is true?
4,000 customers were budgeted to visit the museum during period 6, with 25% of customers paying the reduced fee.
3,000 customers visited the museum during period 6 and 1,000 of these paid the reduced entrance fee.
Costs were as budgeted but the actual full-priced entrance fee was $2 higher than budgeted.
Which of the following statements is true?
Correct Answer: B
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Rank the budgets listed below to show the order in which they should normally be prepared:
Correct Answer:
In short-term decision making, which TWO of the following are relevant costs?
Correct Answer: A,E
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Which one of the following would NOT be included in a decision to close a division of an organization?
Correct Answer: C
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TP makes wedding cakes that are sold to specialist retail outlets which decorate the cakes according to the customers' specific requirements. The standard cost per unit of its most popular cake is as follows:
The general market prices at the time of purchase for Ingredient A and Ingredient B were $23 per kg and
$20 per kg respectively. TP operates a JIT purchasing system for ingredients and a JIT production system; therefore, there was no inventory during the period.
Discuss the usefulness of the planning and operational variances calculated for TP's management.
Select ALL the TRUE statements.
The general market prices at the time of purchase for Ingredient A and Ingredient B were $23 per kg and
$20 per kg respectively. TP operates a JIT purchasing system for ingredients and a JIT production system; therefore, there was no inventory during the period.
Discuss the usefulness of the planning and operational variances calculated for TP's management.
Select ALL the TRUE statements.
Correct Answer: A,D,E
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The marketing director of a company is deciding which of three products to launch into a new market.
The following table of possible outcomes has been prepared.
What is the value of perfect information about market conditions?
Give your answer as a whole number to the nearest $ million.
The following table of possible outcomes has been prepared.
What is the value of perfect information about market conditions?
Give your answer as a whole number to the nearest $ million.
Correct Answer:
$12 million
A clinic offers two types of procedure, A and B.
The clinic uses activity-based costing. The general facility overhead cost for next year is budgeted to be
$8,601,600. The cost driver is the length of patient stay.
Additional data:
What is the general facility overhead cost for each Procedure B?
The clinic uses activity-based costing. The general facility overhead cost for next year is budgeted to be
$8,601,600. The cost driver is the length of patient stay.
Additional data:
What is the general facility overhead cost for each Procedure B?
Correct Answer: A
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