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CIMA Exam CIMAPRA17-BA2-1 Topic 1 Question 68 Discussion

Actual exam question for CIMA's CIMAPRA17-BA2-1 exam
Question #: 68
Topic #: 1
[All CIMAPRA17-BA2-1 Questions]

When compiling profit statement using a marginal costing system we must calculate the contribution. Once we have the contribution, we must deduct a specific amount to calculate the profit. Which of these values should we NOT deduct? (Select ALL that apply.)

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Suggested Answer: C

by Rosendo at Apr 21, 2024, 01:37 AM

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Deonna
1 months ago
Aha, I think I've got it! We definitely shouldn't deduct the selling price, that would just leave us with a negative number. Time to put on my thinking cap for the other options.
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Annelle
7 days ago
A) Fixed costs
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Stefania
1 months ago
Haha, deducting the selling price? That's like trying to subtract the main ingredient from a recipe - not gonna work!
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Kristel
6 days ago
C) Cost of goods sold
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Kristel
19 days ago
A) Fixed costs
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Penney
2 months ago
Hmm, I'm pretty sure we need to deduct the fixed costs, but I'm a bit unsure about the cost of goods sold. Better double-check that one.
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Deane
12 days ago
User 3: I think we should NOT deduct the cost of goods sold either.
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Margurite
19 days ago
User 2: I agree, we also should NOT deduct the selling price.
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Kip
26 days ago
User 1: We should NOT deduct fixed costs when calculating profit.
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Jenelle
2 months ago
Definitely don't deduct the selling price - that would just be silly! We need that to calculate the contribution in the first place.
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Lourdes
2 months ago
C) Cost of goods sold
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Barbra
2 months ago
A) Fixed costs
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Delpha
2 months ago
I think we should not deduct selling price either, as it is the revenue generated from sales and should not be subtracted from profit.
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Blythe
3 months ago
I agree with Tyra, fixed costs should not be deducted because they are already accounted for in the contribution.
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Tyra
3 months ago
We should not deduct fixed costs when calculating profit.
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