Practice CMA-Financial-Planning-Performance-and-Analytics Exam Online

Question 1

A company had 100.000 shares of common stock issued and outstanding at January 1. During the year, the

company took the following actions:

CMA-Financial-Planning-Performance-and-Analytics-page55-image8

A :

$50.000

B : $75,000.

C : $100,000.

D : $150,000

Answer: C

Question 2

Collins Corporation manufactures its products in a highly automated, just-in-time environment and uses a standard cost system. The variance that would cause the least concern would be a

A : 6% unfavorable fixed overhead volume variance caused by work stoppages because of missing parts

B : 9% unfavorable material price variance caused by changing to a supplier that would support the company's just-in-time needs.

C : 30% unfavorable direct labor efficiency variance caused by idle time while waiting for goods to be received from a previous manufacturing department

D : 12% unfavorable variable overhead spending variance caused by keeping equipment running during times when there is no production activity

Answer: B

Question 3

All of the following are limitations of teaming curve analysis except that

A : the learning rate tends to be affected by seasonality in sales

B : the estimated learning rate might be unreliable because other factors could have caused the change

C : the learning rate is assumed to be constant

D : it is appropriate only for labor-intensive repetitive tasks

Answer: A

Question 4

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

A : 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.

B : 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

C : 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.

D : 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: C

Question 5

Which one of the following statements best defines datagovernance?

A : Procedures implemented by the board of directors to manage data.

B : A framework used to oversee the availability, usability and integrity of data

C : The company's framework for supervising and managing the IT function

D : The corporate records retention policy setting out the contents of the system data records

Answer: C

Name:	CMA Part 1 Financial Planning, Performance, and Analytics
Exam Code:	CMA-Financial-Planning-Performance-and-Analytics
Certification:	CMA
Vendor:	IMANET
Total Questions:	115
Last Updated:	Apr 23, 2024

IMANET CMA-Financial-Planning-Performance-and-Analytics