Free CIMA CIMAPRO19-P01-1-ENG Exam Questions

Become CIMA Certified with updated CIMAPRO19-P01-1-ENG exam questions and correct answers

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Total 261 Questions | Updated On: Dec 22, 2020

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Question 1

A company accountant is trying to determine the optimum production plan for the period using linear programming.
The accountant has correctly formulated the linear programming problem as follows:
Variables (products): x and y
Objective function: Maximise contribution, C = 10x + 15y
Material constraint: 4x + 6y 500 (kg)
Labour constraint: x + 2y 350 (hours)
Machine constraint: 10x + 4y 1,500 (hours)
x constraint: 50 x 200
y constraint: y 0
Which of the following statements is true?

A : selling price of y is $15.

B : maximum demand for product x is 50 units.

C : oduct x requires twice as much labour time as Product y.

D : oduct y requires 4 machine hours to manufacture.

Answer: D

Question 2

Some of the movements in a time series follow a pattern over time.
Which type of movement does NOT follow a pattern over time?

A : end

B : clical variation

C : ndom variation

D : asonal variation

Answer: C

Question 3

A company has budgeted to produce 5,000 units of Product B per month. The opening and closing inventories of Product B for next month are budgeted to be 400 units and 900 units respectively. The budgeted selling price and variable production costs per unit for Product B are as follows:

Total budgeted fixed production overheads are $29,500 per month. The company absorbs fixed production overheads on the basis of the budgeted number of units produced. The budgeted profit for Product B for next month, using absorption costing, is $20,700.

Prepare a marginal costing statement which shows the budgeted profit for Product B for next month.

What was the difference between the profit calculation using marginal costing and the profit calculation using absorption costing?

A : $2870

B : $3010

C : $2950

D : $3610

E : $2750

Answer: C

Question 4

A manager is deciding which one of four services to provide next period.

The contribution earned by each service will depend on the weather conditions as follows.

Using the maximin criterion, which service will the manager provide?

A : rvice P

B : rvice Q

C : rvice R

D : rvice S

Answer: D

Question 5

The labour requirement for a special contract is 250 skilled labour hours paid at $10 per hour and 750 semi-skilled labour hours paid at $8 per hour.
At present, skilled labour is fully utilised on other contracts which generate a $12 contribution per hour, after charging labour costs. Additional skilled labour is unavailable in the short term.
There is a surplus of 1,200 semi-skilled hours over the period of the contract but the firm has a policy of no redundancies.
The relevant cost of labour for the special contract is:

A : $ 5,500

B : $ 3,000

C : $ 8,500

D : $ 11,500

Answer: A

Page: 1 / 53

Total 261 Questions | Updated On: Dec 22, 2020

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