“The surest way not to fail is to determine to succeed.” Richard Brinsley Sheridan The Question ABC Retailing Co. prices its products by adding 30% to its cost. ABC anticipates sales of $715,000 in March, $728,000 in April, and $624,000 in May. ABC’s policy is to have on hand enough inventory at the end of the month to cover 25% of … Read More
CMA Exam: Planning and Budgeting Question 2
“Along with success comes a reputation for wisdom.” Euripides The Question Budgetary Slack can be best described as: A) The planned overestimation of budgeted expenses B) The elimination of certain expenses to enhance budgeted income C) The planned underestimation of budgeted expenses D) A plug number used to achieve a pre-set level of operating income The Analysis
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CMA Exam Study Notes: The Direct Labor Budget
The Direct Labor Budget is one of the budget types you’ll need to know about for the CMA exam. It can be controlled by outside forces; labor unions being the most important among them. Usually, there is an increase in the cost of direct labor whenever older labor contracts are completed, and fresh contracts are initiated. Furthermore, technological advancements which … Read More
Exam Strategies that Work – Essay Questions
“Go confidently in the direction of your dreams. Live the life you have imagined.” Henry David Thoreau Essay Questions This part of the exam has many candidates stressed out and worried, and with reason. The exam allocates one hour to answer two essay questions. That alone can seem daunting, but don’t let it get to you. By learning a few exam … Read More
