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Free CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS Exam Braindumps
CMA Part 1: Financial Planning - Performance and Analytics Exam Questions 31–35 (page: 8)

Updated On: 9-Feb-2026
Page 8 of 24
PDF with 112 Questions

Which oneof the following best describes the difference between a normal costing system and an actual costing system?

  1. Direct labor cost is estimated using a predetermined rate under a normal costing system, while it is the actual value under an actual costing system.
  2. Direct material cost is estimated using a predetermined rate under a normal costing system while it is the actual value under an actual costing system
  3. Factory overhead cost is estimated using a predetermined rate under a normal costing system,while it is me actual value under an actual costing system.
  4. Both direct labor cost and direct material cost are estimated using a predetermined rate under a normal costing system, while they are the actual value under an actual costing system

Answer(s): C



Company A currently uses U.S GAAP while Company 8 is currently using IFRS. Both companies are individually in the process of internally developing trademarks that have been demonstrated to be technically andeconomically feasible Both companies have incurred development costs in the current year with respect to their internally developed trademarks.
Which one of the following best describes how Company A and Company B should account for these development costsin their financial statements?

  1. Company A should expense the development costs while Company B should capitalize the development costs
  2. Company A should capitalize the development costs while Company B should expense the development costs
  3. Both Company A and Company B should capitalize the development costs
  4. Both Company A and Company B should expense the development costs

Answer(s): D



For a manufacturing company what is the most Importantadvantage of using variable costing rather than absorption costing?

  1. Variable costing includes only variable direct and indirect costs in inventory which makes it more useful for short-term decision making and performance evaluation.
  2. Variable costingis the required inventory method for external reporting in most countries and therefore is less costly to implement
  3. Variable costing is cost-effective and Jess confusing to managers and is therefore more useful in performance evaluation.
  4. Variable costing measures the cost of all manufacturing resources, whether variable or fixed and thus provides the most complete cost.

Answer(s): A



A company expects sales of 225 000 units in April, 210 000 in May and 190 000 in June. The company maintains an ending Inventory each month of 25% of the next month's sales.

How many units should the company plan to produce in May?

  1. 205,000 units.
  2. 210,000 units
  3. 215.000 units
  4. 221,250 units

Answer(s): A



Which one of the following items is included in accumulated other comprehensive income?

  1. Gains and losses on the sale of equipment
  2. Effect of a change in accounting method
  3. Realized gains on available-for-sale securities
  4. Foreign currency translation adjustments

Answer(s): D



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