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CIMAPRO19-P01-1 Exam Questions
- Topic 1: Determine causality in cost function estimates and impact on budgets/ Identify inventory costs and period costs
- Topic 2: Determine the activity that causes the change in cost/ Understand the difference between variable costs and fixed costs
- Topic 3: Understand relevant cash flows and their use in pricing decisions/ Calculate the costs for products or services using activity-based costing
- Topic 4: Calculate the breakeven point and output level required to meet income targets/ Understand costing and the different reasons for calculating costs
- Topic 5: Understand the impact of individuals’ risk attitudes on decision-making in the short term/ Understand the difference between direct costs and indirect costs
- Topic 6: Calculate revenue and cost estimates using quantitative analyses/ Calculate and interpret overall flexed budget variances
- Topic 7: Understand relevant cash flows and non-financial factors and how it affects make or buy decisions/ Understand the strategic implications of short-term decision-making
- Topic 8: Understand how budgets can help energize and motive individuals and teams/ Recognise how management accountants help make tactical business decisions
- Topic 9: Calculate subdivision of total usage/efficiency variances into mix and yield variances/ Use material, labour, variable overhead, fixed overhead and sales variances
- Topic 10: Establish manufacturing standards for material, labour, variable overhead and fixed overhead/ Understand the difference between financial accounting and cost accounting
Free CIMA CIMAPRO19-P01-1 Exam Actual Questions
Note: Premium Questions for CIMAPRO19-P01-1 were last updated On Apr. 27, 2025 (see below)
A company is considering whether to develop an overseas market for its products. The cost of developing the new market is estimated to be $250,000. There is a 70% probability that the development of the new market will succeed and a 30% probability that the development of the new market will fail and no further expenditure will be incurred.
If the market development is successful, the profit from the new market will depend on prevailing exchange rates. There is a 50% chance that exchange rates will be in line with expectations and a profit of $500,000 will be made. There is a 20% chance that exchange rates will be favorable and a profit of $630,000 will be made and a 30% chance that exchange rates will be adverse and a profit of $100,000 will be made.
The profit figures stated are before taking account of the development costs of $250,000.
Use a decision tree to decidewhether the company should develop an overseas market for its products.
Select one correct answer.
References:
A project has an expected value of $165,250.
The estimates of cash inflows and their probabilities are:
What is the missing cash inflow?
Give your answer as a whole number.
The standard production cost of making a product is as follows:
What is the fixed production overhead capacity variance?
Which costing method, used in just-in-time (JIT) production systems, attaches cost directly to output rather than following the flow of product through the production process?
A company produces a product that requires two materials, Material A and Material B. Details of the material quantities and costs for August are given in the table below.
Budgeted and actual output of the product for August was 12,000 units.
The material yield variance for August is:
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