CIMA P1 問題集

質問 1：
A company's product range includes Product N. The costs relating to Product N are shown below:

The direct labour costs relate to specialists employed to work wholly and exclusively with Product N.
If the company stopped making Product N, the insurance overhead cost would cease, but overhead cost J would be unaffected. Both overheads are absorbed in direct proportion to material costs.
Which of the following costs should be used in the decision whether to stop making Product N?
A. $944,100
B. $884,000
C. $910,100
D. $850,000
正解：C

質問 2：
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.
Prepare a statement which reconciles the flexed budget material cost and the actual material cost. Your statement should include the material price planning variances, and the operational variances including material price, material mix and material yield.
What was the material price planning variance for ingredient A?
A. The Material price planning variance - Ingredient A was $73 000 F
B. The Material price planning variance - Ingredient A was $75 000 F
C. The Material price planning variance - Ingredient A was $71 000 F
D. The Material price planning variance - Ingredient A was $72 000 F
正解：D

質問 3：
Which of the following are examples of feedforward control?
Select ALL that apply.
A. Labour costs for individual jobs are forecast. The forecasts are used as the basis to determine the correct selling price to be quoted to the customer.
B. 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 is achieved.
C. Actual inventory volumes are compared with planned volumes and control action is taken to correct any differences.
D. 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.
正解：B,D

質問 4：
A medium-sized manufacturing company, which operates in the electronics industry, has employed a firm of consultants to carry out a review of the company's planning and control systems. The company presently uses a traditional incremental budgeting system and the inventory management system is based on economic order quantities (EOQ) and reorder levels. The company's normal production patterns have changed significantly over the previous few years as a result of increasing demand for customized products. This has resulted in shorter production runs and difficulties with production and resource planning. The consultants have recommended the implementation of activity based budgeting and a manufacturing resource planning system to improve planning and resource management.
What are the benefits for the company that could occur following the introduction of an activity based budgeting system?
Select ALL the correct answers.
A. The approach under an Activity based Budgeting System is to make arbitrary cuts in order to meet overall financial targets.
B. Under a traditional incremental budgeting system the focus is on existing resources and operations.
Adjustments are then made for changes in activity and price which results in past inefficiencies being perpetuated. Under an activity based budgeting system, only resources that are needed to perform activities required to meet the budgeted production and sales volumes are included.
C. Activity based techniques including activity based budgeting focus on the outputs of a process rather than the input to the process. This approach provides a clear framework for understanding the link between costs and the level of activity. It allows the ranking of activities and the determination of how limited resources should be allocated across competing activities.
D. Activity Based Budgeting Systems present costs under functional headings i.e. the emphasis is on the nature of the cost. The weakness if this approach is that it gives little indication of the link between the level of activity and the cost incurred.
E. Under an activity based budgeting system, resource allocation is linked to the strategic plan and is prepared after considering alternative strategies. This approach ensures that new activities that are required to meet the company's strategic objectives are included in the budget.
正解：B,C,E

質問 5：
A company is considering the use of Material V in a special order.
The material is used regularly and a sufficient quantity of the material is in inventory.
It could also be sold, at just below the current market price, to a local competitor.
What is the relevant cost of Material V to be used in the special contract?
A. Nil
B. The replacement cost of the material.
C. The historic cost of the material in inventory.
D. The resale value of the material.
正解：B

質問 6：
A company manufactures a single product. The cost card for a unit of this product is as follows:
During month 6, finished goods inventory increased by 350 units.

By how much would the profit differ in month 6 if finished goods inventory was valued at standard marginal cost rather than standard absorption cost?
A. $2,450 higher
B. $2,450 lower
C. $1,050 higher
D. $1,050 lower
正解：D

質問 7：
Which THREE of the following statements relating to fixed overhead variances are correct?
A. The total fixed overhead variance is made up of the fixed overhead expenditure variance, the fixed overhead efficiency variance and the fixed overhead capacity variance.
B. The fixed overhead volume variance can be split into the fixed overhead efficiency variance and the fixed overhead capacity variance.
C. The total fixed overhead cost variance in an absorption costing system is the difference between budgeted fixed overhead and actual fixed overhead incurred.
D. The total fixed overhead cost variance in an absorption costing system is the amount of fixed overhead that has been under- or over-absorbed in the period.
E. In a marginal costing operating statement reconciling budgeted contribution to actual profit only the fixed overhead expenditure variance and the fixed overhead volume variance are shown.
正解：A,B,D

質問 8：
GH manufactures a product using skilled labour and high quality materials. The company operates a standard costing system and a just-in-time (JIT) purchasing and production system. The standard selling price and variable costs for one unit of the product are as follows:


Calculate the following variances for October, taking account of the more detailed information regarding the labour mix:
(i) The total labour efficiency variance
(ii) The total labour mix variance
(iii) The total labour yield variance
Select the correct statements.
A. Labour mix variance: $ 63 000 A
B. Labour efficiency variance: $ 78 000 F
C. Labour yield variance: $ 144 000 A
D. Labour efficiency variance: $ 98 000 A
E. Labour mix variance: $ 66 000 F
F. Labour efficiency variance: $ 78 000 A
G. Labour efficiency variance: $ 88 000 F
H. Labour mix variance: $ 75 000 F
正解：C,E,F

質問 9：
Reported profits using activity-based costing (ABC) may be different from reported profits using marginal costing because ABC:
A. ignores variable costs.
B. treats materials as the only truly variable cost.
C. includes fixed costs within the cost of inventory.
D. leads to a different selling price.
正解：C