Deal of the Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions

CIMAPRO19-P01-1 Exam

Certification Provider: CIMA
Exam Name: P1 Management Accounting
Number of questions in our database: 260
Exam Version: May. 29, 2023
CIMAPRO19-P01-1 Exam Official Topics:
  • Topic 1: Determine causality in cost function estimates and impact on budgets/ Identify inventory costs and period costs
  • Topic 2: Determine the activity that causes the change in cost/ Understand the difference between variable costs and fixed costs
  • Topic 3: Understand relevant cash flows and their use in pricing decisions/ Calculate the costs for products or services using activity-based costing
  • Topic 4: Calculate the breakeven point and output level required to meet income targets/ Understand costing and the different reasons for calculating costs
  • Topic 5: Understand the impact of individuals? risk attitudes on decision-making in the short term/ Understand the difference between direct costs and indirect costs
  • Topic 6: Calculate revenue and cost estimates using quantitative analyses/ Calculate and interpret overall flexed budget variances
  • Topic 7: Understand relevant cash flows and non-financial factors and how it affects make or buy decisions/ Understand the strategic implications of short-term decision-making
  • Topic 8: Understand how budgets can help energize and motive individuals and teams/ Recognise how management accountants help make tactical business decisions
  • Topic 9: Calculate subdivision of total usage/efficiency variances into mix and yield variances/ Use material, labour, variable overhead, fixed overhead and sales variances
  • Topic 10: Establish manufacturing standards for material, labour, variable overhead and fixed overhead/ Understand the difference between financial accounting and cost accounting

Free CIMA CIMAPRO19-P01-1 Exam Actual Questions

The questions for CIMAPRO19-P01-1 were last updated On May. 29, 2023

Question #1

A company is preparing its annual budget and is estimating the number of units of Product W 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:

Calculate the expected unit sales of Product W for each quarter of year 2, after adjusting for seasonal variations using the multiplicative model.

Reveal Solution Hide Solution
Correct Answer: A

References:


Question #2

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

(Select all the true statements.)

Reveal Solution Hide Solution
Correct Answer: A, B, D

References:


Question #3

Explain how probability analysis could be used to assess the risk of the evaluated projects.

Select all the true statements.

Reveal Solution Hide Solution
Correct Answer: A, B, C

References:


Question #4

A company is preparing its annual budget and is estimating the number of units of Product W 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:

Calculate the expected unit sales of Product W for each quarter of year 2, after adjusting for seasonal variations using the multiplicative model.

Reveal Solution Hide Solution
Correct Answer: A

References:


Question #5

A major company sells a range of electrical, clothing and homeware products through a chain of department stores. The main administration functions are provided from the company's head office. Each department store has its own warehouse which receives goods that are delivered from a central distribution center.

The company currently measures profitability by product group for each store using an absorption costing system. All overhead costs are charged to product groups based on sales revenue. Overhead costs account for approximately one-third of total costs and the directors are concerned about the arbitrary nature of the current method used to charge these costs to product groups.

A consultant has been appointed to analyses the activities that are undertaken in the department stores and to establish an activity based costing system.

The consultant has identified the following data for the latest period for each of the product groups for the X Town store:

Calculate the total profit for each of the product groups:

.... using the current absorption costing system;

Reveal Solution Hide Solution
Correct Answer: D


Unlock all CIMAPRO19-P01-1 Exam Questions with Advanced Practice Test Features:
  • Select Question Types you want
  • Set your Desired Pass Percentage
  • Allocate Time (Hours : Minutes)
  • Create Multiple Practice tests with Limited Questions
  • Customer Support
Get Full Access Now
Disscuss CIMA CIMAPRO19-P01-1 Topics, Questions or Ask Anything Related

Save Cancel