CIMA Exam CIMAPRO19-P01-1 Topic 7 Question 101 Discussion

Actual exam question for CIMA's CIMAPRO19-P01-1 exam

Question #: 101
Topic #: 7

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.

ALabour yield variance: $ 144 000 A

BLabour mix variance: $ 66 000 F

CLabour efficiency variance: $ 78 000 A

DLabour efficiency variance: $ 78 000 F

ELabour efficiency variance: $ 88 000 F

FLabour mix variance: $ 75 000 F

GLabour efficiency variance: $ 98 000 A

HLabour mix variance: $ 63 000 A

Show Suggested Answer

Suggested Answer: A

References:

by Edda at Sep 18, 2024, 04:00 PM

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Helga

1 months ago

This is the kind of question that makes me wish I had a crystal ball instead of a calculator.

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Sarina

1 months ago

I bet the exam writer is sipping coffee, waiting to see if we'll fall for any of these options.

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Kris

6 days ago

I'm not so sure, I think it might be D) Labour efficiency variance: $ 78 000 F and F) Labour mix variance: $ 75 000 F.

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Viola

9 days ago

I agree, those seem to be the most reasonable options based on the information provided.

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Ilene

21 days ago

I think the correct answers are C) Labour efficiency variance: $ 78 000 A and H) Labour mix variance: $ 63 000 A.

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Deangelo

1 months ago

Wait, is this a trick question? I better double-check my work.

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Ozell

3 days ago

User 1: I think I got the answer wrong. Let me review my calculations.

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Kattie

1 months ago

Ah, a classic cost accounting problem. Time to put my calculator to work!

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Kayleigh

8 days ago

I am going with B and F as the correct statements.

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Frederic

12 days ago

I believe the correct statements are C and G.

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Ludivina

20 days ago

I think the correct statements are A and H.

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Wai

2 months ago

Hmm, this question looks tricky. I'll need to really focus on the details to get this right.

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Weldon

11 days ago

Thanks for the offer, I'll let you know if I need assistance. I'll give it my best shot.

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Esteban

15 days ago

I think I got it, let me know if you need any help understanding the question.

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Esteban

26 days ago

I agree, it's important to pay attention to the details in order to solve this.

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Rex

1 months ago

Yes, I'll need to double check my calculations to make sure I get the correct answers.

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Gussie

1 months ago

Don't worry, just take your time and break it down step by step.

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Lorean

2 months ago

Thanks for the encouragement, I'll give it my best shot.

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Theresia

3 months ago

I think the correct answer for the total labour efficiency variance is option C, $78,000 A.

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Christiane

3 months ago

I agree, it required a good understanding of standard costing and labour variances.

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Theresia

3 months ago

I found the question about variances in the exam quite challenging.

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