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CIMA Exam CIMAPRO19-P01-1 Topic 7 Question 101 Discussion

Actual exam question for CIMA's CIMAPRO19-P01-1 exam
Question #: 101
Topic #: 7
[All CIMAPRO19-P01-1 Questions]

GH manufactures a product using skilled labour and high quality materials. The company operates a standard costing system and a just-in-time (JIT) purchasing and production system. The standard selling price and variable costs for one unit of the product are as follows:

Calculate the following variances for October, taking account of the more detailed information regarding the labour mix:

(i) The total labour efficiency variance

(ii) The total labour mix variance

(iii) The total labour yield variance

Select the correct statements.

Show Suggested Answer Hide Answer
Suggested Answer: A

References:


by Edda at Sep 18, 2024, 04:00 PM

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Helga
15 days ago
This is the kind of question that makes me wish I had a crystal ball instead of a calculator.
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Sarina
17 days ago
I bet the exam writer is sipping coffee, waiting to see if we'll fall for any of these options.
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Ilene
2 days ago
I think the correct answers are C) Labour efficiency variance: $ 78 000 A and H) Labour mix variance: $ 63 000 A.
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Deangelo
19 days ago
Wait, is this a trick question? I better double-check my work.
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Kattie
25 days ago
Ah, a classic cost accounting problem. Time to put my calculator to work!
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Ludivina
2 days ago
I think the correct statements are A and H.
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Wai
2 months ago
Hmm, this question looks tricky. I'll need to really focus on the details to get this right.
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Esteban
7 days ago
I agree, it's important to pay attention to the details in order to solve this.
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Rex
19 days ago
Yes, I'll need to double check my calculations to make sure I get the correct answers.
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Gussie
26 days ago
Don't worry, just take your time and break it down step by step.
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Lorean
1 months ago
Thanks for the encouragement, I'll give it my best shot.
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Theresia
2 months ago
I think the correct answer for the total labour efficiency variance is option C, $78,000 A.
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Christiane
2 months ago
I agree, it required a good understanding of standard costing and labour variances.
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Theresia
2 months ago
I found the question about variances in the exam quite challenging.
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