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CIMAPRO19-P01-1 Exam Questions
- 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
Note: Premium Questions for CIMAPRO19-P01-1 were last updated On Feb. 17, 2025 (see below)
A company produces a product that requires two materials, Material A and Material B. Details of the material quantities and costs for August are given in the table below.
Budgeted and actual output of the product for August was 12,000 units.
The material yield variance for August is:
References:
A company uses a standard costing system.
The company's sales budget for the latest period includes 1,500 units of a product with a selling price of $400 per unit.
The product has a budgeted contribution to sales ratio of 30%.
Actual sales for the period were 1,630 units at a selling price of $390 per unit.
The actual contribution to sales ratio was 28%.
The sales volume contribution variance for the product for the latest period is:
References:
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.
What was the material yieldvariance?
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