IMA CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS Online Practice Questions and Exam Preparation

IMA CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS Online Questions & Answers

• Question 61:

  If a company s disaster recovery planning includes the use of a cold site the company will ______

  A. resume Its business processes immediately at a remote site with no preinstalled equipment
  B. restore its IT function after equipment is made ready at a site with prewired IT access
  C. restart its IT operations using the real-time mirroring performed at the cold site
  D. relaunch its major business processes from a site with preinstalled equipment
  B. restore its IT function after equipment is made ready at a site with prewired IT access

• Question 62:

  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-

  A. 205,000 units.
  B. 210,000 units
  C. 215.000 units
  D. 221,250 units
  A. 205,000 units.

• Question 63:

  The following information pertains to Wang Corporation which uses standard costing for its materials.

  

  What is me amount of the unfavorable material-related variance that would appear on a report to the production foreman-

  A. $4,000
  B. $5,000
  C. $5,600
  D. $6,000
  D. $6,000

• Question 64:

  Stone Ltd manufactures socket wrenches .The company produced 400 000 wrenches and sold 350,000 this year. The following information pertains to the costs accumulated in Stone's inventory.

  

  What is the difference between Stones operating income under absorption costing and variable costings

  A. $16,750 higher using absorption costing.
  B. $19,750 lower using variable costing
  C. $28,000 lower using variable costing
  D. $36.500 higher using absorption costing
  A. $16,750 higher using absorption costing.

• Question 65:

  A building materials retailer uses a LIFO method of valuing its inventory. The company has just introduced a new product. The following is the activity for the first month of this new product.

  1. Purchase of 3,000 units on the 2nd of the month at $5.00.

  2. Purchase of 6,000 units on the 12th of the month at $4.80.

  3. Purchase of 2,000 units on the 31st of the month at $5 60.

  4. Sales of the product were 4,000 units on the 20th of the month.

  Using the periodic method, the ending value of the inventory would be ______

  A. $34,200.
  B. $35,000.
  C. $35,200.
  D. $35, 800.
  C. $35,200.

• Question 66:

  Which one of the following activities is not a pan of the data mining process-

  A. Applying statistical techniques to derive information from large sets of data
  B. Using artificial intelligence to identify patterns in large data sets
  C. Generating recommendations based on insights derived from large databases
  D. Creating valid and useful information from large data sets using statistical methods
  C. Generating recommendations based on insights derived from large databases

• Question 67:

  A company had 100.000 shares of common stock issued and outstanding at January 1. During the year, the company took the following actions:

  

  A. $50.000
  B. $75,000.
  C. $100,000.
  D. $150,000
  C. $100,000.

• Question 68:

  Describe one example of predictive data analytics that the proposed human resources management software can perform.

  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.

  A. See the Answer below in Explanation details.
  B. PlaceHolder
  C. PlaceHolder
  D. PlaceHolder
  A. See the Answer below in Explanation details.

  ---

  Explanation

  One example of predictive data analytics that the proposed human resources management software can perform is identifying employees who are at risk of resigning. By analyzing historical data such as employee turnover rates, average length of service, reasons for past resignations, absenteeism patterns, performance ratings, and training participation, the system can predict which current employees are most likely to leave. It can then generate alerts and recommend retention actions such as offering targeted training opportunities, career development plans, or salary adjustments. This predictive capability helps ZFI reduce turnover, retain valuable staff, and lower recruitment and training costs.

• Question 69:

  Which one of the following statements best defines data governance-

  A. Procedures implemented by the board of directors to manage data.
  B. A framework used to oversee the availability, usability and integrity of data
  C. The company's framework for supervising and managing the IT function
  D. The corporate records retention policy setting out the contents of the system data records
  C. The company's framework for supervising and managing the IT function

• Question 70:

  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. $45,000.
  B. $70,000.
  C. $80,000.
  D. $100,000.
  B. $70,000.