Download CIMA Official Exam Practice Kit Fundamentals of Management by Walter Allan PDF

By Walter Allan

CIMA examination perform KITS ARE the single perform fabrics recommended by means of CIMA totally up to date for the recent 2010 syllabus examinations, the CIMA reputable examination perform equipment encompasses a financial institution of inquiries to assist you arrange to your exam. Supplementing the professional studying method, this examination perform equipment focuses basically on employing what has been realized to cross the examination. it really is perfect for autonomous learn or tutored revision classes, supporting you to organize with self assurance for examination day and cross the recent syllabus first time. The CIMA examination perform package contains: . examination common a number of selection questions . designated reasons or calculations for every solution, displaying why the answer's right . kind and weighting of questions which fit the layout of the examination . CBA type mock paper . tailored layout heavily following the constitution of the CIMA studying procedure and CIMA's studying results formally via CIMA AND WRITTEN via major CIMA TUTORS, THE examination perform KITS offer A worthy perception ON the best way to ranking best MARKS

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Extra resources for CIMA Official Exam Practice Kit Fundamentals of Management Accounting, Third Edition: CIMA Certificate in Business Accounting

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Of workers Machine maintenance labour – Machine maintenance hours Supervision – No. of workers. Rent apportionment Total occupancy ϭ 100,000 sq. metres Annual rent ϭ £500,000 Cost per sq. metre ϭ £5 Department A occupancy ϭ 30,000 sq. 5 Production and services department Production (£) Service (£) A B C X Y 100,000 75,000 50,000 25,000 10,000 Apportion X 7,500 7,500 5,000 (25,000) 5,000 Apportion Y 7,500 1,500 4,500 1,500 (15,000) Apportion X 450 450 300 Apportion Y 150 30 90 30 Apportion X 11 11 8 *(30) – 115,611 84,491 59,898 – – Initial Allocation Total charge for overhead (1,500) 300 (300) * When the service department cost reduces to a small amount, the final apportionment is adjusted for roundings.

10 Arguments for and against departmental absorption rates: For (i) Costings of products are more accurate since each product can be charged with the relevant amount of overheads from each department. (ii) Cost control is improved since under/over absorption can be calculated for each department. Against (i) A single factory-wide rate is simpler, less time-consuming and cheaper. (ii) If departmental rates are not kept under constant review, they may give misleading costing information. 1 What are the three objectives of accounting for overhead costs?

9 What is a perpetual inventory? 10 State four advantages of using a material code. 1 A material requisition is used to authorise and record the issue of material from stores to production or for indirect purposes. 2 The three methods of inventory valuation are (i) FIFO – First In First Out (ii) LIFO – Last In First Out (iii) Weighted average cost. 4. 66 13,333 Advantages and disadvantages of FIFO Advantage (i) Produces realistic inventory values. Disadvantages (i) Produces out-of-date production costs.

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