CIMA Related Exams
P1 Exam
A company sells two products, X and Y, which are always sold in the same ratio.
No inventories are held.
The following budgeted data relate to month 10:

What is the budgeted margin of safety in month 10?
What type of budget is prepared on an annual basis taking current year operating results and adjusting them for expected growth and inflation?
A company uses a standard costing system.
The company’s sales budget for the latest period includes 1,500 units of a product with a selling price of $400 per unit.
The product has a budgeted contribution to sales ratio of 30%.
Actual sales for the period were 1,630 units at a selling price of $390 per unit.
The actual contribution to sales ratio was 28%.
The sales volume contribution variance for the product for the latest period is: