- All Exams Instant Download
Which TWO of the following are characteristics of Management Accounts? (Choose two.)
Which TWO of the following are characteristics of Management Accounts? (Choose two.)A . Governed by rules and regulationsB . Provide information to managersC . Provide information needed by shareholdersD . Internally focusedE . Statutory requirementView AnswerAnswer: BE
Which of the following is NOT a valid purpose of budgeting?
Which of the following is NOT a valid purpose of budgeting?A . To communicate targets to managers.B . To comply with financial reporting requirements.C . To coordinate the different activities of an organisation.D . To authorise managers to incur expenditure.View AnswerAnswer: D Explanation: Reference: https://www.acowtancy.com/textbook/acca-pm/budgetary-systems/budgetary-systems/notes
What was the production overhead absorption rate per unit?
A company uses standard absorption costing. Budgeted and actual data for the latest period are as follows. What was the production overhead absorption rate per unit?A . $21B . $27C . $35D . $29View AnswerAnswer: C
Which of the following is a relevant cost?
Which of the following is a relevant cost?A . A sunk costB . A committed costC . An incremental costD . A historical costView AnswerAnswer: C Explanation: Reference: https://www.acowtancy.com/textbook/cima-p1-2015/c1-relevant-costing/concept-of-relevantcosting/notes
Which of the following statements about batch costing is true?
Which of the following statements about batch costing is true?A . Batch costing must use absorption costing.B . The cost of a batch is found by multiplying the cost of one unit by the number of units in the batch.C . Batch costing must use marginal costing.D . The cost...
The following data are available for a company that produces and sells a single product.
The following data are available for a company that produces and sells a single product. - The company’s opening finished goods inventory was 2,500 units. - The fixed overhead absorption rate is $8.00 per unit. - The profit calculated using marginal costing is $16,000. - The profit calculated using absorption...
Which of the following would NOT be an appropriate performance measure for a profit centre manager?
Which of the following would NOT be an appropriate performance measure for a profit centre manager?A . Return on capital employedB . Contribution per unitC . Sales price varianceD . Gross marginView AnswerAnswer: B
In a company that manufactures many different products on the same production line, which TWO of the following would NOT be classified as indirect production costs? (Choose two.)
In a company that manufactures many different products on the same production line, which TWO of the following would NOT be classified as indirect production costs? (Choose two.)A . Salary paid to the factory manager.B . Factory rent.C . Maintenance costs for the company’s only production line.D . Commissions paid...
What year-to-date contribution to sales ratio (C/S ratio) would be reported at the end of month 10?
The year-to-date results at the end of month 9 included sales revenue of $3,600,000 and variable costs of $2,100,000. During month 10, sales revenue was $450,000 and variable costs were $270,000. What year-to-date contribution to sales ratio (C/S ratio) would be reported at the end of month 10?A . 58,5%B...
Which retail outlet has the highest contribution per square metre?
A small airport’s management accountant has prepared the following management report on the performance of its four retail outlets. Which retail outlet has the highest contribution per square metre?A . Outlet AB . Outlet BC . Outlet CD . Outlet DView AnswerAnswer: C
