Certified Management Accountant Part 1 Practice Test 2026-2027 and Free Sample Questions

At 10,000 units a company incurs 80,000 dollars of total maintenance cost, and at 14,000 units it incurs 96,000 dollars. Using the high-low method, what is the variable maintenance cost per unit?

A company budgeted 3 direct labor hours per unit at 20 dollars per hour. It produced 1,000 units using 3,200 actual hours at an actual rate of 19 dollars per hour. What is the direct labor efficiency (quantity) variance?

A product sells for 50 dollars with variable costs of 30 dollars per unit. Fixed costs are 120,000 dollars. How many units must be sold to earn a target operating income of 40,000 dollars?

Under the COSO Internal Control Integrated Framework, which component is concerned with the policies and procedures that help ensure management directives are carried out, such as approvals, verifications, and segregation of duties?

A factory using activity-based costing has a setup activity pool with 200,000 dollars of cost and 400 expected setups. Product Z requires 25 setups. How much setup cost should be allocated to Product Z?

A division has operating income of 600,000 dollars, average operating assets of 3,000,000 dollars, and a minimum required rate of return of 12 percent. What is the division's residual income?

A company has current assets of 500,000 dollars, including inventory of 200,000 dollars and prepaid expenses of 50,000 dollars, and current liabilities of 250,000 dollars. What is the quick (acid-test) ratio?

A company expects sales of 30,000 units, beginning finished goods inventory of 4,000 units, and a desired ending inventory of 5,000 units. How many units should the production budget call for?

A company purchased 22,000 pounds of material at 4.20 dollars per pound. The standard price is 4.00 dollars per pound. What is the direct materials price variance?

A bank reconciliation prepared by an employee who has no access to cash receipts or disbursements is an example of which type of internal control?

Which of the following costs would most appropriately be classified as a period cost rather than a product cost in a manufacturing company?

A company reports net income of 250,000 dollars, depreciation expense of 60,000 dollars, an increase in accounts receivable of 40,000 dollars, and an increase in accounts payable of 25,000 dollars. What is cash flow from operating activities using the indirect method?

In regression analysis used to estimate cost behavior, the coefficient of determination (R-squared) measures which of the following?

A company has a contribution margin ratio of 40 percent and fixed costs of 200,000 dollars. If sales increase by 50,000 dollars, by how much will operating income increase, assuming the company is already past breakeven?

A company budgeted fixed manufacturing overhead of 300,000 dollars based on 60,000 standard machine hours. Actual fixed overhead was 310,000 dollars and 58,000 standard hours were allowed for actual output. What is the fixed overhead production volume variance?

A company's annual planning process begins with senior management establishing broad goals and strategy, after which lower levels develop detailed budgets within those parameters. This describes which budgeting approach?

A service department's costs are allocated to operating departments using the direct method. Which of the following statements about the direct method is correct?

A company offers credit terms of 2/10, net 30. Approximately what is the effective annual cost of forgoing the discount and paying on day 30, using a 360-day year?

Under the IMA Statement of Ethical Professional Practice, a management accountant who discloses confidential company information learned on the job to an outside party for personal stock-trading advantage primarily violates which standard?