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Cima P1 Dumps

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Cima P1 Dumps

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  1. Cima P1 Management Accounting exam in just 24HOURS! 100% REAL EXAM QUESTIONSANSWERS American CollegeTest Buy Complete Questions Answers Filefrom http://www.exams4sure.com/CIMA/P1-practice-exam-dumps.html 100% Exam Passing Guarantee & Money BackAssurance SampleQuestions

  2. Question No1: In short-term decision making, which TWO of the following are relevantcosts? Sunkcosts Avoidablecosts Committedcosts Opportunitycosts Notionalcosts Answer: B, D Question No2: Which of the following are examples of feedforward control? Select ALL thatapply. Labour costs for individual jobs are forecast. The forecasts are used as the basis to determine the correct selling price to be quoted to thecustomer. The sales volume for the next quarter is forecast and compared with the planned volume. If there is a forecast shortfall action is taken to correct the difference. A target is set for the cash balance at the period end. The balance shown in the cash forecast is compared with the target and action is taken to ensure that the target balance isachieved. Actual inventory volumes are compared with planned volumes and control action is taken to correct anydifferences. Answer: B, C Question No3: Since there is no likelihood of them receiving a pay rise in the foreseeable future, your colleagues are considering leaving their current employment and starting their own business. When preparing the data to evaluate their decision, their current salaries wouldbe: Incrementalcosts Opportunitycosts Sunkcosts Pastcosts Answer:B

  3. Question No4: A company develops computer software programs to meet each client's specific requirements. The management accountant is considering introducing a standard costing system. Which THREE of the following are reasons that support the case for the company's introduction of a standard costingsystem? It will enable the company to make a direct comparison of costs for each program developed. It will enable the company to better focus on the quality of itsservice. It will provide a system ofcontrol. It will aid the budget settingprocess. It will simplify the work-in-progressvaluation. Answer: C, D,E Question No5: 8fb9be1c-b0d5-4acb-8cfb-f4b4426e641B. The primary objective of Company A is to maximise profit. It is now deciding on the optimum production mix for the next period and has one limited productionresource. The production mix decision should be basedon: Answer: B Question No6: A company is bidding to win a special contract. Which of the following is NOT a relevant cost to the company of undertaking thecontract? The purchase cost of direct materials not currently ininventory. The cost of hiring a machine which will be hired if the contract iswon. The cost of a training course for staff which will be undertaken if the contract iswon. The depreciation charge on the tools which will be used during thecontract. Answer:D

  4. Question No7: • Which of the following managers is most likely to be responsible for an favourable labour efficiencyvariance? • ProductionManager • PurchasingManager • Human ResourcesManager • MarketingManager • Answer: A Question No8: • Which of the following distinguishes risk fromuncertainty? • Risk can be quantified whereas uncertaintycannot. • Risk can have both upside and downside whereas uncertainty is alwaysdownside. • Risk should be taken into account in decision making whereas uncertainty shouldnot. • Risk is relevant to financial decisions whereas uncertainty is relevant tonon-financial. • Answer: A Question No9: • The simplex method has been used to determine the optimum output of products P, Q, R and S with constraints on resources J, K and L. In the final simplex tableau, the figure in the product R row and the column for slack variable K is 80. Which of the following statements is correct? • For each additional unit of resource K available, the contribution would increase by$80. • For each additional unit of resource K available, the output of product R would increase by 80units. • For each additional unit of product R produced, 80 additional units of resource K would berequired. • In the optimum solution, 80 units of resource K areunused. • Answer:B • Buy Complete Questions Answers Filefrom • 100% Exam Passing Guarantee & Money BackAssurance • PDF Version + Test Engine SoftwareVersion • 90 Days Free UpdatesService

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