P1 Exam Dumps - CIMA Operational Questions and Answers

in the ratio of 4:6:3.

in the ratio of the sales value at the split-off point.

in the ratio of the sales value after further processing.

it is not necessary to allocate joint costs in a further processing decision.

The revised standard cost of 450 units compared with the original standard cost of 450 units

The revised standard cost of 300 units compared with the orginal standard cost of 300 units

The revised standard cost of 450 units compared with the original standard cost of 300 units

The revised standard cost of 300 units compared with the original standard cost of 450 units

The culture of an organisation should be to get things right the first time.

Everyone within an organisation should be involved in improving quality.

All costs relating to quality should be examined, particularly those relating to failure costs.

There is an acceptable quality level that an organisation must try to achieve.

The costs of conformance are more important than the costs of non-conformance.

The organisation should rely on inspection to achieve quality standards.

Lead time between the preparation of the functional budgets and the approval of the master budget by senior management

Difference between the budgeted output and the actual output

Difference between budgeted capacity utilization and full capacity

Intentional over estimation of costs and/or under estimation of revenue in a budget

Cost of product liability insurance

Cost of supervision of testing and inspection activities

Performance testing costs

Cost of maintaining inspection equipment

Environmental internal failure cost

Environmental appraisal cost

Environmental prevention cost

Environmental external failure cost

A method determining the sales price by calculating the full cost of the product and adding a percentage mark-up for profit.

A method determining the sales price by adding a profit margin onto variable production costs.

A method determining the sales price by adding a profit margin onto variable sales costs.

A method determining the sales price by calculating full production costs and adding a percentage mark-up for profit.

When contribution is equal to zero

When profit is equal to zero

When revenue is equal to contribution

When revenue is equal to fixed costs

When fixed costs are equal to contribution

Basic trend

Cyclical variation

Random fluctuation

Seasonal variation