CIMAPRA17-BA2-1 BA2 - Fundamentals of Management Accounting Exam Practice Test

A company produces a single product for which the following cost data are available.

Analysis by the management accountant has shown that 100% of direct material cost and 50% of direct labour cost are variable costs. 50% of production overhead and 100% of selling and distribution overhead are variable costs.

What is the marginal cost per unit?

Every month for the last three years, a company has recorded the number of new customers for that month. The data have been summarised and grouped as follows:

What is the arithmetic mean of the number of new customers per month?

The International Federation of Accountants (IFAC) stated that it was important that ''accountants in business'' should understand what the drivers of stakeholder value are. Which of the following statements is valid?

A company operates an integrated standard cost accounting system. The standard price of raw material A is $20 per litre. At the start of period 1, the inventory of 500 litres of raw material A was valued at $20 per litre. During period 1, 100 litres of raw material A were purchased at an actual price of $21 per litre. During period 2, 550 litres of raw material A were issued to Job 789.

In respect of the above events, which TWO of the following statements are correct? (Choose two.)

Data for the latest period for a company which makes and sells a single product are as follows:

There were no budgeted or actual changes in inventories during the period.

The variable overhead expenditure variance for the period was:

Which TWO of the following are characteristics of Management Accounts? (Choose two.)

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?