Verified CMA-Financial-Planning-Performance-and-Analytics dumps Q&As - Pass Guarantee or Full Refund [Apr-2023]
CMA-Financial-Planning-Performance-and-Analytics PDF Dumps | Apr 13, 2023 Recently Updated Questions
NEW QUESTION 38
A company carried out the following activities for the current period.
According to U.S GAAP, what amount of cash was provided by financing activities?
- A. ($25,000).
- B. ($55.000).
- C. ($40, 000).
- D. ($45.000)
Answer: D
NEW QUESTION 39
The best way to illustrate the entire distribution of numerical data for a single variable is with a
- A. bubble chart
- B. histogram
- C. pie chart
- D. heat map
Answer: A
NEW QUESTION 40
For a manufacturing company what is the most Important advantage of using variable costing rather than absorption costing?
- A. Variable costing includes only variable direct and indirect costs in inventory which makes it more useful for short-term decision making and performance evaluation.
- B. Variable costing is cost-effective and Jess confusing to managers and is therefore more useful in performance evaluation.
- C. Variable costing measures the cost of all manufacturing resources, whether variable or fixed and thus provides the most complete cost.
- D. Variable costing is the required inventory method for external reporting in most countries and therefore is less costly to implement
Answer: A
NEW QUESTION 41
Explain the concept of data encryption and discuss how It may be used to protect the email communications between ZFls payroll administrator and the payroll service provider.
Essay
Zhiliang Foods Inc. (ZFI) is a privately-held food distributor ZFI has two production departments' the Meat Department is labor-intensive. while the Bakery Department is highly automated ZFI applies a single overhead allocation rate, using the number of pounds produced as an allocation base for the whole company The expected annual overhead costs of ZFI for 100 million pounds produced are as follows (¥ in millions).
ZFI has one payroll administrator in its Human Resources department, but most of the payroll related work is outsourced to a payroll service provider ZFI's payroll administrator is responsible for tracking the list of current employees and maintaining the most up-to-date employee information, including bank accounts for payroll direct deposits.
Each pay period, the payroll administrator emails the information for all current employees' hours worked to the payroll service provider. The service provider then processes the payroll, makes direct deposits to employees' bank accounts, mails payroll stubs to employees' homes and emails payroll reports to ZFI's payroll administrator. The payroll administrator then makes payroll journal entries to ZFI's accounting system based on the payroll reports received ZFI's accountant prepares a bank reconciliation each month to ensure ZFI s payroll payments on ZFI's bank statement match the amounts shown on the payroll reports from the service provider.
ZFl's management is evaluating the purchase of data encryption software and human resources management software next year. The human resource management software is expected to provide various human resources and payroll-related functions.
In addition, the human resource software can generate a report to indicate the monthly employee turnover rate and the average service length of employees who have resigned. The system can also generate a report to indicate the main reasons for resignations and identify current employees who are at risk of resigning. The system will recommend actions to help retain these employees, such as more training opportunities or a pay raise.
Answer:
Explanation:
See the Answer below in Explanation details.
Explanation
Data encryption is coding the information in such a way that no one except the receiver who win nave the secret key or password would be able to access and read the information It Is a security measure done for protecting the Information In this case also the payroll information is sensitive and hence data encryption will be beneficial to ensure that the company confidential information about payroll is safeguarded against fraudulent attempts.
NEW QUESTION 42
A company recently used 500 direct labor hours to manufacture ten units of a new product, if the company employs the cumulative average-time learning model with a 90% learning curve, the number of direct labor hours the company would expect to use to produce the next ten units of this product is
- A. 0
- B. 1
- C. 2
- D. 3
Answer: B
NEW QUESTION 43
A company uses the full cost method to determine transfer prices between business units The related data are shown below
Based on these data, what is the transfer price?
- A. $37.50.
- B. $22 50
- C. $25.00
- D. $50.00
Answer: C
NEW QUESTION 44
If a company s disaster recovery planning includes the use of a cold site the company will
- A. restart its IT operations using the real-time mirroring performed at the cold site
- B. resume Its business processes immediately at a remote site with no preinstalled equipment
- C. relaunch its major business processes from a site with preinstalled equipment
- D. restore its IT function after equipment is made ready at a site with prewired IT access
Answer: D
NEW QUESTION 45
What is ZF's expected variable overhead cost per pound of food produced? Snow your calculations Essay Zhiliang Foods Inc. (ZFI) is a privately-held food distributor ZFI has two production departments' the Meat Department is labor-intensive. while the Bakery Department is highly automated ZFI applies a single overhead allocation rate, using the number of pounds produced as an allocation base for the whole company The expected annual overhead costs of ZFI for 100 million pounds produced are as follows (¥ in millions).
ZFI has one payroll administrator in its Human Resources department, but most of the payroll related work is outsourced to a payroll service provider ZFI's payroll administrator is responsible for tracking the list of current employees and maintaining the most up-to-date employee information, including bank accounts for payroll direct deposits.
Each pay period, the payroll administrator emails the information for all current employees' hours worked to the payroll service provider. The service provider then processes the payroll, makes direct deposits to employees' bank accounts, mails payroll stubs to employees' homes and emails payroll reports to ZFI's payroll administrator. The payroll administrator then makes payroll journal entries to ZFI's accounting system based on the payroll reports received ZFI's accountant prepares a bank reconciliation each month to ensure ZFI s payroll payments on ZFI's bank statement match the amounts shown on the payroll reports from the service provider.
ZFl's management is evaluating the purchase of data encryption software and human resources management software next year. The human resource management software is expected to provide various human resources and payroll-related functions.
In addition, the human resource software can generate a report to indicate the monthly employee turnover rate and the average service length of employees who have resigned. The system can also generate a report to indicate the main reasons for resignations and identify current employees who are at risk of resigning. The system will recommend actions to help retain these employees, such as more training opportunities or a pay raise.
Answer:
Explanation:
See the Answer below in Explanation details.
Explanation
Factory Utilities 30m
Production Payroll 20m
Other Variable Cost 40m
Total Variable OHD 90m
Total Pounds Produced 100m
Hence vanable OHD per pound / 90m= 100m = 0.9
NEW QUESTION 46
A company manufactures dining tables. The variable costs per unit are as follows.
Other costs are fixed and include advertising costs of $45,000 per year administrative costs of $55,000 annually and fixed manufacturing overhead of S250.000 per year based on Budgeted production of 10.000 dining tables There was no beginning inventory During the prior year, a total of 10.000 dining tables were manufactured, with 9 000 dining tables sold at $100 each Based on the above information what would be the cost of the ending finished goods inventory under absorption (full) costing?
- A. $70,000.
- B. $80,000.
- C. $45,000.
- D. $100,000.
Answer: A
NEW QUESTION 47
Huaxia Manufacturing's standard cost card for product GH1 includes the following:
During the month of June, Huaxia produced 12,300 units. The purchasing department purchased 30,400 yards of fabric for a total cost of $100,320. The production department used 25.300 yards of fabric in June. What is Huaxia's direct materials price variance for the month of June?
- A. $2,450 unfavorable
- B. $14,220 unfavorable
- C. $6,080 favorable
- D. $11,770 unfavorable
Answer: C
NEW QUESTION 48
Inherent risk factors involved in the revenue recognition process include each of the following except
- A. computerization of the process by which sates receipts and credit memoranda are recorded
- B. breakdown of segregation of duties controls
- C. legal factors that affect product warranties, returns and liabilities
- D. Industry factors that affect pricing, terms and discounts
Answer: B
NEW QUESTION 49
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. 9% unfavorable material price variance caused by changing to a supplier that would support the company's just-in-time needs.
- B. 6% unfavorable fixed overhead volume variance caused by work stoppages because of missing parts
- C. 12% unfavorable variable overhead spending variance caused by keeping equipment running during times when there is no production activity
- D. 30% unfavorable direct labor efficiency variance caused by idle time while waiting for goods to be received from a previous manufacturing department
Answer: A
NEW QUESTION 50
Playtime inc. manufactures playground equipment and uses 60 board feet of lumber in each model no 643 produced The company, which anticipates selling 350 units of this model during April, plans to boost its finished goods inventory in April by 80 units in preparation for the peak summer season Playtime expects to manufacture 450 units in May Playtime has only 500 board feet of lumber on hand as of April 1 because of a temporary shortage, and typically maintains a lumber Inventory equal to 20% of the following month's production needs. On the basis of this information, how many board feet of lumber should the company plan to purchase in April?
- A. $31,200
- B. $31,900
- C. $31,700
- D. $30,700
Answer: D
NEW QUESTION 51
A company's controller is preparing to allocate service department costs. The controller would like to use a cost allocation method that would be most accurate. The method the controller would most likely use is the
- A. dual allocation method
- B. reciprocal method
- C. step-down method
- D. direct method
Answer: B
NEW QUESTION 52
The type of data anarytics mat seeks to identify the best action to take in oraer to achieve a desired result is
- A. directive analytics
- B. predictive analytics
- C. prescriptive analytics
- D. diagnostic analytics
Answer: C
NEW QUESTION 53
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