Important CIMAPRO19-P01-1 Exam Questions
CIMA P1 Management Accounting CIMAPRO19-P01-1 Exam
Attempt the CIMA Professional Qualification practice test and solve real exam-like CIMAPRO19-P01-1 questions to prepare efficiently and increase your chances of success. Our CIMAPRO19-P01-1 practice questions match the actual P1 Management Accounting exam format, helping you enhance confidence and improve performance. With our CIMAPRO19-P01-1 practice exam software, you can analyze your performance, identify weak areas, and work on them effectively to boost your final CIMA Professional Qualification exam score.
| Vendor: | CIMA |
|---|---|
| Exam Name: | P1 Management Accounting |
| Registration Code: | CIMAPRO19-P01-1 |
| Related Certification: | CIMA Professional Qualification Certification |
| Exam Audience: |
Question: 1
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.
Prepare a statement which reconciles the flexed budget material cost and the actual material cost. Your statement should include the material price planning variances, and the operational variances including material price, material mix and material yield.
What was the material price planning variance for ingredient A?
Question: 2
A manufacturing company uses activity-based costing to charge overheads to its three products. One of the main activities is quality inspection. The cost driver is the number of inspections and the budgeted cost is $211,200.
Additional budgeted data.
What is the budgeted quality inspection cost for a unit of product F?
Question: 3
A project has an expected value of $165,250.
The estimates of cash inflows and their probabilities are:
What is the missing cash inflow?
Give your answer as a whole number.
See Below Explanation:
Question: 4
Which THREE of the following are functional budgets?
Question: 5
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.
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