CIMA CIMAPRA17-BA2-1-ENG BA2 – Fundamentals of Management Accounting (2017 SYLLABUS) (Online) Online Training
CIMA CIMAPRA17-BA2-1-ENG Online Training
The questions for CIMAPRA17-BA2-1-ENG were last updated at Apr 22,2024.
- Exam Code: CIMAPRA17-BA2-1-ENG
- Exam Name: BA2 - Fundamentals of Management Accounting (2017 SYLLABUS) (Online)
- Certification Provider: CIMA
- Latest update: Apr 22,2024
CORRECT TEXT
Refer to the exhibit.
Each unit of product ‘Smitten’ uses 5 kgs of material ‘Z’.
The budgeted details for March are as follows:
It is anticipated that sales of product ‘Smitten’ in March will be 20000 units.
The amount of material ‘Z’ that needs to be purchased in March is:
A company’s cash budgetary plans show that there will be surplus cash for three months of the forthcoming year.
Which THREE of the following would be appropriate management actions in this situation?
- A . Offer a longer credit period to new customers to boost sales
- B . Purchase new non-current assets to increase efficiency
- C . Reduce the finished goods inventory to save storage costs
- D . Pay suppliers early to obtain prompt payment discounts
- E . Repay a long-term loan to reduce interest costs
- F . Invest in a short-term deposit account
Refer to the Exhibit.
PD manufactures a product in a process operation. Normal loss is 5% of input and occurs at the end of the process.
The following data is available for the month of August:
Scrapped units have no value.
There was no opening or closing work in progress for August.
What is the value of the abnormal gain in August?
- A . Nil
- B . $1,880
- C . $1,816
- D . $893
In an integrated cost and financial accounting system, the accounting entries for the payment of net wages to indirect production workers would be:
- A . Debit: Bank accountCredit: Wages control account
- B . Debit: Work in progress control accountCredit: Bank account
- C . Debit: Wages control accountCredit: Bank account
- D . Debit: Production overhead control accountCredit: Bank account
A company uses an integrated accounting system.
The accounting entries for the sale of goods on credit would bE.
- A . Debit: Receivables control accountCredit: Sales account
- B . Debit: Sales accountCredit: Finished Goods Control account
- C . Debit: Receivables control accountCredit: Cost of sales account
- D . Debit: Sales accountCredit: Receivables control account
The materials price variance will be adverse when:
- A . The actual cost of the materials is more than the standard material cost for the output produced
- B . The actual cost of the materials purchased is more than the standard cost of the materials purchased
- C . The materials usage variance is favourable
- D . The price of materials has fallen
CORRECT TEXT
CVP Limited manufactures a single product with a selling price of $25.60. Fixed costs are $122,880 per month and the product has a profit/volume ratio of 40%.
In a month when actual sales were $358,400, CVP’s margin of safety in units was
A company operates an absorption costing system. Overheads are absorbed using a pre-determined absorption rate using labour hours. In the period actual labour hours were 10,600, 400 hours below budget. Actual overheads for the period were £234,680 and there was an under-absorption of overheads of £1,480.
What was the budgeted level of overheads?
- A . £242,000
- B . £233,200
- C . £245,072
- D . £224,720
The net present value (NPV) of an investment is as follows.
NPV at 14% = $6,320
NPV at 18% = ($4,600) negative
The internal rate of return (IRR) of the investment is closest to
- A . 14.6%
- B . 16.0%
- C . 16.3%
- D . 20.3%
Refer to the Exhibit.
AM Ltd. makes and sells a single product for which the standard cost information is as follows:
✑ Budgeted production for the period is 30000 units.
✑ The actual results for the period were as follows:
What is the variable overhead expenditure variance?
- A . 13,161 adverse
- B . 13,161 favourable
- C . 13,600 adverse
- D . 13,600 favourable
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