[Full-Version] 2023 Updated IMA Study Guide CMA-Financial-Planning-Performance-and-Analytics Dumps Questions [Q15-Q33]

NEW QUESTION 15
would you recommend any changes to the job responsibilities of ZFl’s payroll administrator from an internal control perspective? Explain why.
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.

NEW QUESTION 16
Harris Company sells two products with the following characteristics.

Harris Company’s total sales-mix variance for the year is

NEW QUESTION 17
Mauer Company’s master budget for next year indicates the following

NEW QUESTION 18
A company has developed a core competency in data mining. Which one of the following best describes this core competency?

NEW QUESTION 19
A company expects sales of 225 000 units in April, 210 000 in May and 190 000 in June. The company maintains an ending Inventory each month of 25% of the next month’s sales.
How many units should the company plan to produce in May?

NEW QUESTION 20
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?

NEW QUESTION 21
A timber company is evaluating its products to determine whether to continue to further process scrap wood into wood chips, or to just sell the scrap wood to another company. Which of the following statements best describes what the company should consider regarding the potential by-product?

NEW QUESTION 22
A heating. ventilation, and air conditioning (HVAC) company estimates that n takes a new team of technicians
100 labor hours to install its first HVAC system and that there is an 80% learning rate What are the estimated total labor hours for a new team to complete its first four installations?

NEW QUESTION 23
A plastics manufacturing company is analyzing business units using the BCG Growth-Share Matrix Business Unit A is a market leader with high market share in the plastic container market Unit A’s growth in the past three years has been limited due to high regulation and decreasing customer demand Customer satisfaction tor the unit is high Business Unit B is a relatively new business unit which entered the market two years ago with a new, innovative plastic organizer Unit B holds just 5% of the market share but growth has been high for this new product line Throughput time for this unit is lower than the company average with a high number of reworks each month. Which one of the following correctly identifies the BCG Growth-Share matrix for Business Unit A and Business Unit B. respectively?

NEW QUESTION 24
in times of declining prices using the Last-in First-Out (LIFO) cost flow assumption rather than the First-in, First-Out (FIFO) assumption will yield

NEW QUESTION 25
Ingle Inc. has adopted a quality management program that considers all defects as avoidable and unnecessary The goal of this program is to have zero defects ingle uses a process costing system and has recognized the cost of normal and abnormal spoilage on its financial statements How will the new quality management program affect the accounting for normal and abnormal spoilage?

NEW QUESTION 26
The purchasing team manager of a large car retailer is responsible for purchasing cars for the Pest price and managing his team’s payroll costs. Once the car is purchased the sales team manager is responsible for setting the prices. Which one of the following statements best describes the team s responsibilities’?

NEW QUESTION 27
Brickworks Inc. prepares its annual budget by focusing on the budgeted costs of the processes necessary to produce and sell its products This type of budgeting is known as

NEW QUESTION 28
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

NEW QUESTION 29
Music Masters Inc. has three departments: Instrument Sales, Music Instruction and Recording Studio The three segments are staffed by different customer service personnel but share space and administrative staff Condensed income statement information follows.

Management wants to eliminate the Recording Studio because of its losses. Because of the configuration of the building it is doubtful the space could be sublet and none of the common fixed costs would be eliminated However, additional space allocated to either Instrument Sales or Music Instruction might increase revenue from those sources In making this decision, all of the following outcomes are correct except.

NEW QUESTION 30
Which one of the following items is included in accumulated other comprehensive income?

NEW QUESTION 31
Which one of the following statements best describes data governance?

NEW QUESTION 32
A new restaurant chain has installed a new restaurant management system. However many employees have complained that the restaurant management system is not user-friendly and has caused many customer service issues. Which one of the following may help to improve system performance?

NEW QUESTION 33
A scatterplot is an effective visualization technique that is used to