Most Recent CIMAPRO19-P01-1 Exam Questions & Answers

Prepare for the CIMA P1 Management Accounting exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the CIMAPRO19-P01-1 exam and achieve success.

The questions for CIMAPRO19-P01-1 were last updated on Dec 22, 2024.

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Question No. 1

The standard output from a joint process is 4,000 litres of Product K, 6,000 litres of Product L and 3,000 litres of Product M.

The total cost of the joint process is $147,000.

The company is now deciding if it should further process Product L.

In the further processing decision the best way to apportion the joint costs to the products is:

Ain the ratio of 4:6:3.

Bin the ratio of the sales value at the split-off point.

Cin the ratio of the sales value after further processing.

Dit is not necessary to allocate joint costs in a further processing decision.

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Correct Answer: D

Question No. 2

PL currently earns an annual contribution of $2,880,000 from the sale of 90,000 units of product B. Fixed costs are $800,000 per annum.

The management of PL is considering reducing the selling price per unit to $48. The estimated levels of demand at the revised selling price and the probabilities of them occurring are as follows:

Calculate the probability that the profit will increase from its current level if the selling price is reduced to $48.

AThe probability therefore that the contribution will exceed $2,880,000 is 90%.

BThe probability therefore that the contribution will exceed $2,880,000 is 50%.

CThe probability therefore that the contribution will exceed $2,880,000 is 70%.

DThe probability therefore that the contribution will exceed $2,880,000 is 40%.

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Correct Answer: A

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Question No. 3

ABC uses an activity-based costing system.

The company manufactures three products, details of which are given below:

Total material movement costs for the period are $10,000.

The material movement cost per unit for Product Z (to the nearest $0.01) is:

A$10.67

B$2.71

C$3.23

D$7.62

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Correct Answer: A

Question No. 4

Two products being produced by a company require the same material which is limited to 2,600 kgs.

What is the optimal production plan?

A500 units of S & 100 units of T

B50 units of S & 400 units of T

C400 units of S & 167 units of T

D500 units of S & 400 units of T

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Correct Answer: A

Question No. 5

The term 'budgetary slack' refers to the:

ALead time between the preparation of the functional budgets and the approval of the master budget by senior management

BDifference between the budgeted output and the actual output

CDifference between budgeted capacity utilization and full capacity

DIntentional over estimation of costs and/or under estimation of revenue in a budget

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Correct Answer: D

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