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CIMAPRO19-P01-1 Exam Questions

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CIMAPRO19-P01-1 Exam Questions

Free CIMAPRO19-P01-1 Exam Questions - CIMA CIMAPRO19-P01-1 Exam

CIMA CIMAPRO19-P01-1 Exam

P1 Management Accounting

Total Questions: 260

Last Updated : 08-12-2024

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CIMAPRO19-P01-1 Exam - Prepare from Latest, Not Redundant Questions!

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CIMA CIMAPRO19-P01-1 Exam Sample Questions:

Q1.

Select the benefits to a company of using sensitivity analysis in investment appraisal.

(Select all the true statements.)

ASensitivity analysis enables a company to determine the effect of changes to variables on the planned outcome.

BSensitivity analysis enables a company to assess the risk associated with a project.

CSensitivity analysis enables identification of fixed costs that are of special significance.

DSensitivity analysis enables risk management strategies to be put in place to focus on those variables of special significance.

Q2.

Calculate the sensitivity of the investment decision to a change in the annual fixed costs.

By how much should the present value of the fixed cost increase, before this project is not viable?

A$7698

B$6390

C$9050

D$8675

Q3.

A company produces trays of pre-prepared meals that are sold to restaurants and food retailers. Three varieties of meals are sold: economy, premium and deluxe.

q3_CIMAPRO19-P01-1

Discuss the benefits of flexible budgeting for planning and control purposes.

Select all the true statements.

AA fixed budget will provide meaningful control information when actual activity differs from budget and variable costs are significant.

BIf actual sales revenue is compared to a fixed budget it is possible to tell whether a favourable sales variance is due to an increase in units sold or an increase in sales price.

CIf sales volumes were well above budget, adverse variable cost variances will probably be reported, against the fixed budget, since more variable costs have to be incurred to support the higher level of activity.

DReporting against a fixed budget tells management nothing about the efficiency of operations.

EIf a flexible budget is prepared then the budget variances calculated will provide a better indication of performance since actual results will be compared against an appropriate benchmark.

FThe fixed budget however provides more insight into actual performance.

Q4.

A company produces trays of pre-prepared meals that are sold to restaurants and food retailers. Three varieties of meals are sold: economy, premium and deluxe.

q4_CIMAPRO19-P01-1

Calculate, for the original budget, the budgeted fixed overhead costs, the budgeted variable overhead cost per tray and the budgeted total overheads costs.

AOriginal budget contribution = $162 000, Flexed budget contribution = $ 178 200, Actual Contribution $ 201 960

BOriginal budget contribution = $172 000, Flexed budget contribution = $ 148 200, Actual Contribution $ 221 960

COriginal budget contribution = $272 000, Flexed budget contribution = $ 248 200, Actual Contribution $ 321 960

DOriginal budget contribution = $242 000, Flexed budget contribution = $ 148 200, Actual Contribution $ 121 960

Q5.

A company produces trays of pre-prepared meals that are sold to restaurants and food retailers. Three varieties of meals are sold: economy, premium and deluxe.

q5_CIMAPRO19-P01-1

Calculate, for the original budget, the budgeted fixed overhead costs, the budgeted variable overhead cost per tray and the budgeted total overheads costs.

AThe variable cost per tray = $0.75; The fixed cost = $ 490 000

BThe variable cost per tray = $0.65; The fixed cost = $ 550 000

CThe variable cost per tray = $0.45; The fixed cost = $ 320 000

DThe variable cost per tray = $0.85; The fixed cost = $ 530 000

Solutions:

Question: 1 Answer: A, B, D

Question: 2 Answer: D

Question: 3 Answer: C, D, E

Question: 4 Answer: A

Question: 5 Answer: B

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