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Free CIMA CIMAPRO19-P01-1-ENG Exam Questions

Try our Free Demo Practice Tests for Comprehensive CIMAPRO19-P01-1-ENG Exam Preparation

  • CIMA CIMAPRO19-P01-1-ENG Exam Questions
  • Provided By: CIMA
  • Exam: P1 Management Accounting
  • Certification: CIMA Professional Qualification
  • Total Questions: 261
  • Updated On: Sep 27, 2024
  • Rated: 4.9 |
  • Online Users: 522
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  • Question 1
    • Christian the management accountant at a car manufacturer has been given a list of costs that have been incurred due to accidents and errors either occurring or being prevented.
      Which of the following are examples of non-conformance costs? Select ALL that apply.

      Answer: A,B,C
  • Question 2
    • Information about a company's only two products is as follows:

      69

      The revenue from the products must be in the constant mix of 2U:3V. Budgeted monthly sales revenue is $110,000.
      Fixed costs are $23,095 each month.
      To the nearest $10, what is the budgeted monthly margin of safety in terms of sales revenue?

      Answer: A
  • Question 3
    • A company is preparing its annual budget and is estimating the number of units of Product A that it will sell in each quarter of year 2. Past experience has shown that the trend for sales of the product is represented by the following relationship:
      y = a + bx where
      y = number of sales units in the quarter a = 10,000 units b = 3,000 units x = the quarter number where 1 = quarter 1 of year 1
      Actual sales of Product A in Year 1 were affected by seasonal variations and were as follows:
      Quarter 1:14,000 units Quarter2: 18,000 units Quarter 3: 18,000 units Quarter 4: 20,000 units
      Calculate the expected sales of Product A (in units) for each quarter of year 2, after adjusting for seasonal variations using the additive model.

      Answer: B
  • Question 4
    • The labour requirement for a special contract is 250 skilled labour hours paid at $10 per hour and 750 semi-skilled labour hours paid at $8 per hour.
      At present, skilled labour is fully utilised on other contracts which generate a $12 contribution per hour, after charging labour costs. Additional skilled labour is unavailable in the short term.
      There is a surplus of 1,200 semi-skilled hours over the period of the contract but the firm has a policy of no redundancies.
      The relevant cost of labour for the special contract is:

      Answer: A
  • Question 5
    • The standard production cost of making a product is as follows:

      3

      What is the fixed production overhead capacity variance?

      Answer: B
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