P1 Exam Dumps - CIMA Operational Questions and Answers

Marginal costing is appropriate for long-term pricing decisions.

Marginal costing is appropriate for short-term pricing decisions.

Absorption costing when used for pricing decisions includes the 'total-cost' of the product.

Marginal costing ensures the recovery of all costs incurred in selling prices.

Marginal costing is more appropriate for use in one-off pricing decisions.

Absorption costing is more appropriate for use in one-off pricing decisions.

The culture of an organisation should be to get things right the first time.

Everyone within an organisation should be involved in improving quality.

All costs relating to quality should be examined, particularly those relating to failure costs.

There is an acceptable quality level that an organisation must try to achieve.

The costs of conformance are more important than the costs of non-conformance.

The organisation should rely on inspection to achieve quality standards.

Cost of product liability insurance

Cost of supervision of testing and inspection activities

Performance testing costs

Cost of maintaining inspection equipment

$13,350

$41,000

$16,500

$37,850