CMA Part 1 – Financial Planning‚ Performance‚ & Control Examination Practice Questions © Copyright 2013 Institute of Certified Management Accountants CMA Part 1 – Financial Planning‚ Performance and Control Examination Practice Questions 1. A company is preparing the sales budget for two potential products. Both products require the use of the same manufacturing equipment‚ which is only available for 60 hours each month. The contribution margin of product A is $95 per unit and the contribution
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asked Frank to make a short presentation at the next management meeting commenting on the major reasons for the favorable operating income variance of $71‚700. Peterson asked him to draft his presentation in the next few days so that the two of them could go over it before the meeting. Peterson said he wanted to illustrate to the management group how an analysis of the profit variance could highlight those areas needing corrective attention as well as those deserving a pat on the back. THE PROFIT
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Flashcard Machine - create‚ study and share online flash cards Term A budget can be a means of communicating a company ’s objectives to external parties. (T/F) | | Definition False | | | Term A benefit of budgeting is that it provides objectives for evaluating performance (T/F) | | Definition True | | | Term A budget can be used as a basis for evaluating performance (T/F) | | Definition True | | | Term A well-developed budget can operate and enforce itself. (T/F) |
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ACC 561 Final Exam Copy this link to your browser and download http://www.finalexamguide.com/ACC-561-Final-Exam-5-90.htm 1). _____ refers to accounting information developed for managers within an organization. A. Internal auditing B. Managerial accounting C. Financial accounting D. Tax accounting 2). Ethical accountants are important to society because _____. A. they pay their taxes B. the information produced is reliable C. they will not go
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cost system in a simple setting. It shows how such a system works‚ including the development of variances‚ and ties cost accounting to the accounting cycle the student learned in Part 1 of the book. (Brisson’s system is the same as the one depicted in Illustration 19-2.) This seems to be a valuable exercise‚ especially in helping to minimize the omnipresent problems students have with production cost variance analysis in the next chapter. If not assigned for class‚ this makes a good exam case. (For ease
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contribution report for February‚ in which: * The static budget column in the contribution report is replaced with a flexible budget column. * The variances in the contribution report are recomputed as the difference between the flexible budget and actual columns. Answer Particulars | Static Budget | Flexible Budget | Actual | Variance | Unit (pounds) | 200000 | 225000 | 225000 | 0 | Revenue | 1600000 | 1800000 | 1777500 | 22500 U | Direct Material | 290000 | 326250 | 432500 |
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406 ACC 2301 INTRODUCTORY MANAGEMENT ACCOUNTING Section 011 (Monday) Final Exam‚ Winter Term 2012 (May 25th‚ 2012‚ 1:10 p.m. - 3:10 p.m. in Room TRS2-147) INSTRUCTIONS TO STUDENTS: 1. This 2-hour test consists of 5 questions (7 pages). 2. Marks total 45. 3. All questions must be answered on this paper in the spaces following the questions. Pages are not to be separated and all pages must be submitted without exception. 4. Calculator (model Royal XE24 or XE36
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Motivation and perception Effect of Motivation and Perception Nora Trinity Rhode Island College Motivation and Perception. Abstract Psychological studies had shows that people involuntarily form a general opinion about one another
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paragraphs “Team B‚” will attempt to answer what are the advantages of a flexible budget versus the static budget. How the flexible utilizes a contribution format. How a flexible budget is useful for variance analysis. Finally “Team B” will attempt to provide information pertaining to the types of variances computed when making use of a flexible budget. Advantages of a flexible budget over to a static budget The distinct difference between a flexible and static budget is that a flexible budget projects
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HSM 340 Midterm Exam Solution Health Services Finance https://hwguiders.com/downloads/hsm-340-midterm-exam-solution-health-services-finance HSM 340 Midterm Exam Solution Health Services Finance Question 1.1. (TCO 4) Which of the following is part of a statistics budget? Output expectations Responsibility for estimation Estimation methodology All of the above Question 2.2. (TCO 4) Which budgetary issue causes the most strife in all areas of a health care organization? Setting volume levels
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