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Fundamentals of Management Accounting Questions 151–155 (page: 32)

Updated On: 9-Feb-2026

Refer to the exhibit.



A departmental budgetary control report for the latest period includes the following information.

The budgeted variable production cost per unit is

  1. $10
  2. $12
  3. $16
  4. $17

Answer(s): B



The Chartered Institute of Management Accounting's definition of management accounting outlines four responsibilities of the accountant in terms of the value for the stakeholders.
The management accountant should

aim to have which of the following effects according to CIMA?

  1. Create value for the stakeholder
  2. Protect value for the stakeholder
  3. Preserve value for the stakeholder
  4. Increase value for the stakeholder
  5. Decrease value for the stakeholder
  6. Damage value for the stakeholder

Answer(s): A,B,C,D



CORRECT TEXT

Refer to the exhibit.



RS operates a standard absorption costing system. The following data is available for the month of March.

The sales budget for the month of March was for 3,000 units to be sold giving sales revenue of $40,000.

The actual sales volume is

  1. 2400 units.

Answer(s): A



Refer to the exhibit.



Which is the correct journal entry required to record a favorable variable overhead expenditure variance in an integrated accounting system?

The correct journal entry required to record a favorable variable overhead expenditure
variance in an integrated accounting system is:

  1. A
  2. B
  3. C
  4. D

Answer(s): C



Feedforward control systems differ from feedback systems in that they _____________________.

  1. Analyse the adverse variance before implementing a solution.
  2. Predict issues before they arise and attempt to prevent them.
  3. Acknowledge adverse variances will occur and does nothing to prevent them.

Answer(s): B



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