Free Online IMANET CMA-Financial-Planning-Performance-and-Analytics Practice Test

Prepare Your IMANET CMA-Financial-Planning-Performance-and-Analytics Exam Questions with Free online CMA-Financial-Planning-Performance-and-Analytics Practice Test. Get Brilliant CMA Part 1 Financial Planning, Performance, and Analytics Exam Results with Valid CMA Financial Planning Performance and Analytics Exam Dumps.

Page: 1 / 23

Total 115 Questions | Updated On: May 13, 2024

Add To Cart

Question 1

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 2

Which one of the following is not considered to be a Benefit of participative budgeting?

A : Managers are held responsible for reaching their goals and cannot shift responsibility by blaming the unrealistic goals demanded by the budget.

B : Budget estimates are prepared by those in direct contact with various activities

C : individuals at all organizational levels are recognized as being pan of the team resulting in greatersupport of the budget

D : When managers set the final targets for the budget, it reduces top management's concerns about theprofitability of operations

Answer: D

Question 3

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

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

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

Page: 1 / 23

Total 115 Questions | Updated On: May 13, 2024

Add To Cart