CMA Financial Planning Performance and Analytics

A company s accounting department is run by only one accountant. Which one of the following can be implemented as a detective control?A . Require the accountant to double-check his work B. Require the accountant to update cash balance regularly C. Train another employee to perform bank reconciliations D. Train...

Anatolian Textile Company produces blue-jean pants for a globally known blue-jean brand and its annual financial results are shown below. Based on the table the sales-price variance for the company isA . 4,500 unfavorable B. 4,500 favorable C. 10,500 favorable D. 10,500 unfavorableView AnswerAnswer: C

MJC Co. is considering adopting a variable costing system using variable costing rather than absorption costing will be more advantageous to MJC because the variable costing systemA . more readily provides data needed for cost/volume/profitanalyses done by management B. focuses on gross profit as the best indicator of a company's...

Which one of the following best describes the difference between a normal costing system and an actual costing system?A . Direct labor cost is estimated using a predetermined rate under a normal costing system, while it is the actual value under an actual costing system. B. Direct material cost is...

After a recent earthquake in a nearby city the board of directors of a company has requested a review of the company s disaster recovery plan. Which of the following would be classified as a weakness in the company's disaster recovery plan?A . Management has decided not to maintain a...

Harris Company sells two products with the following characteristics. Harris Company's total sales-mix variance for the year isA . $300,000 Unfavorable B. $350,000 unfavorable C. $375,000 Unfavorable D. $725,000 FavorableView AnswerAnswer: C

Sullivan Company's static Budget for the past yearis shown below. Sullivan actually sow 11.000.000 units throughout the year which was a quantity within its relevant range. The flexible budget net income that should be used to compare to actual results isA . $4,200,000.00 B. $7,500,000.00 C. $6,580,000.00 D. $11,500,000.00View AnswerAnswer:...

A company recently used 500 direct labor hours to manufacture ten units of a new product, if the company employs the cumulative average-time learning model with a 90% learning curve, the number of direct labor hours the company would expect to use to produce the next ten units of this...

A company reported that its shareholders' equity decreased in the recent year. This could occur ifA . dividends paid were less than net income. B. dividends paid were greater than net income C. new common stock was sold for greater than par value D. new common stock was sold for...

A company has prepared the following pro forma income statements. It plans to sell 10,000 units in the current year and 11.500 units next year. A . Increase sales revenue by 15%. B. Reduce cost of goods sold by $1.00 per unit C. Increase gross profit margin by 15% D....