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Q: 1
The cost card for one unit of Product G is as follows: CIMA CIMAPRO19 P01 1 question The opening and closing inventories of Product G for month 5 are budgeted to be 10 units and 60 units respectively. Profit for month 5 using absorption costing is budgeted to be $15,000. What is the budgeted profit for month 5 using throughput costing?
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Q: 2
CIMA CIMAPRO19 P01 1 question Select the benefits to a company of using sensitivity analysis in investment appraisal. (Select all the true statements.)
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Q: 3
A budgetary control report for the latest period is shown below: CIMA CIMAPRO19 P01 1 question Which TWO of the following statements are correct?
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Q: 4
A manager has not yet used all oh his budget. He is worried that his budget maybe reduced next year if he is not seen to have needed all the funds. He decides to spend the remaining £1,580 on another team building exercise as well as a catered lunch for his department. This example falls under which behavioural aspect of budgetary control?
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Q: 5
XY can choose from four mutually exclusive projects. The projects will each last for one year and their net cash inflows will be determined by market conditions. The forecast net cash inflows for each of the possible outcomes are shown below. CIMA CIMAPRO19 P01 1 question If the company applies the maximin criterion the project chosen would be:
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Q: 6
Reported profits using activity-based costing (ABC) may be different from reported profits using marginal costing because ABC:
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Q: 7
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: CIMA CIMAPRO19 P01 1 question 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.
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Q: 8
Company LGF seeks to maximize profits and has a 'risk seeker' attitude when making decisions. The company has to choose between mutually exclusive projects. A range of possible profit outcomes has been estimated for each project along with their associated probabilities. Company LGF would choose the project with the:
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Q: 9
Which of the following explain why standard costing is less appropriate in the contemporary business environment? 1. In a continuous improvement environment standard costing can restrict the impetus to remain as cost competitive as rivals. 2. Fixed overhead variances are less relevant as fixed costs represent a decreasing proportion of total manufacturing cost. 3. In a just-in-time environment there are fewer costs to control.
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Q: 10
Explain why sensitivity analysis is useful when dealing with uncertainty in project appraisal. Select all the true statements.
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