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CIMA CIMAPRO19-P01-1 Exam
P1 Management Accounting (Page 2 )

Updated On: 1-Feb-2026
Page 2 of 53
PDF with 260 Questions

TP makes wedding cakes that are sold to specialist retail outlets which decorate the cakes according to the customers' specific requirements. The standard cost per unit of its most popular cake is as follows:



The general market prices at the time of purchase for Ingredient A and Ingredient B were $23 per kg and $20 per kg respectively. TP operates a JIT purchasing system for ingredients and a JIT production system; therefore, there was no inventory during the period.

What was the material yield variance?

  1. The material yield variance was $98 500 A
  2. The material yield variance was $175 500 A
  3. The material yield variance was $155 000 A
  4. The material yield variance was $175 000 A
  5. The material yield variance was $155 500 A

Answer(s): D



In a manufacturing company, breakeven occurs at which TWO of the following?

  1. When contribution is equal to zero
  2. When profit is equal to zero
  3. When revenue is equal to contribution
  4. When revenue is equal to fixed costs
  5. When fixed costs are equal to contribution

Answer(s): B,E



DRAG DROP (Drag & Drop is not supported)

A company is choosing between three projects, Project P, Project Q and Project R using minimax regret as the criterion for the decision. The outcome from each project is dependent on future economic growth. If this is strong, returns will be P $5,000, Q $6,500 and R $7,200. If it is weak, returns will be P $3,500, Q $4,800 and R $4,200.

Place the correct figures into the table to show the maximum regret for each project.

  1. See Explanation section for answer.

Answer(s): A

Explanation:



A company accountant is trying to determine the optimum production plan for the period

using linear programming.

The accountant has correctly formulated the linear programming problem as follows:

Variables (products): x and y

Objective function: Maximise contribution, C = 10x + 15y

Material constraint: 4x + 6y 500 (kg)

Labour constraint: x + 2y 350 (hours)

Machine constraint: 10x + 4y 1,500 (hours)

x constraint: 50 x 200

y constraint: y 0

Which of the following statements is true?

  1. The selling price of y is $15.
  2. The maximum demand for product x is 50 units.
  3. Product x requires twice as much labour time as Product y.
  4. Product y requires 4 machine hours to manufacture.

Answer(s): D



A company sells and services photocopying machines. Its sales department sells the machines and consumables, including ink and paper, and its service department provides an after sales service to its customers. The after sales service includes planned maintenance of the machine and repairs in the event of a machine breakdown. Service department customers are charged an amount per copy that differs depending on the size of the machine.

The company's existing costing system uses a single overhead rate, based on total sales revenue from copy charges, to charge the cost of the Service Department's support activities to each size of machine. The Service Manager has suggested that the copy charge should more accurately reflect the costs involved. The company's accountant has decided to implement an activity-based costing system and has obtained the following information about the support activities of the service department:



Calculate the annual profit per machine for each of the three sizes of machine, using the current basis for charging the costs of support activities to machines.

  1. The profit per machine for the medium machine was: $1276
  2. The profit per machine for the medium machine was: $1376
  3. The profit per machine for the medium machine was: $1350
  4. The profit per machine for the medium machine was: $1250

Answer(s): A



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