ICAN Management Information 2025
Past Questions

Zaria Manufacturing Limited produces a single product. Fixed production overhead for the period is ₦4,800,000 and budgeted production is 40,000 units. Actual production is 48,000 units and actual sale…

Abuja Furniture Works Limited has a contribution to sales (C/S) ratio of 40% and fixed costs of ₦9,600,000 per annum. The company wishes to achieve a target profit of ₦2,400,000 before tax. Ignoring C…

Port Harcourt Chemicals Limited produced 20,000 units and sold 17,500 units during the quarter ended 30 September 2024. The following cost data applies: Variable production cost ₦450 per unit; Fixed p…

Lagos Pharmaceuticals Ltd processes a drug through two sequential processes. Process 1 transfers output to Process 2. In Process 1 during March: input 5,000 litres at ₦400 per litre; conversion costs …

Enugu Steel Works Plc is preparing its cash budget for May 2024. Credit sales in March, April and May are ₦18,000,000, ₦22,000,000 and ₦26,000,000 respectively. The collection pattern is: 40% in the m…

Zenith Manufacturing Limited prepares a master budget for the year ended 31 December 2024. Which of the following CORRECTLY describes the master budget?

Under CVP analysis, which of the following best describes the 'angle of incidence' in a breakeven chart?

Which of the following statements about Cost-Volume-Profit (CVP) analysis is CORRECT?

A company's Management Information System (MIS) generates a monthly exception report flagging all employees whose gross pay exceeds ₦500,000. Under the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (…

Aso Petroleum Limited incurred the following costs in processing a management report for Q2 2024: data collection ₦1,200,000; data analysis ₦3,400,000; report preparation ₦800,000; and distribution ₦3…

Zenith Foods Limited prepared a management report showing total revenue of ₦85,000,000 and a cost of sales of ₦52,000,000 for the quarter ended 31 March 2024. If operating expenses amounted to ₦18,500…

Which of the following BEST describes 'exception reporting' as used in management information systems?

In Fitzgerald and Moon's Building Block Model of performance measurement, which of the following is classified as a 'Determinant' of performance rather than a 'Result'?

Abuja Power Solutions Limited uses the Balanced Scorecard framework. The company's target is to reduce customer complaint resolution time from 72 hours to 24 hours. Under which Balanced Scorecard pers…

QUESTION 2 Abuja Power Solutions Limited (APSL) is a Nigerian company that manufactures and sells inverter systems and solar panels to residential and commercial customers across the Federal Capital …

QUESTION 2 Nigerian Breweries Supply Co. Limited (NBSC), a subsidiary of a large conglomerate in Abuja, manufactures industrial cleaning agents for commercial clients. The company uses an absorption …

Kano Textile Mills Plc produces two products: 'KanoWeave' (KW) and 'KanoSheen' (KS). The company currently uses absorption costing for all internal and external reporting. The Board of Directors is re…

Eko Breweries Limited, a Lagos-based manufacturer of malt drinks, operates a standard costing system. The following standard cost card relates to one crate of its flagship product, 'Eko Gold', for the…

Zuma Manufacturing Limited uses direct labour hours to absorb production overheads. For the year ended 31 December 2023, the budgeted production overheads were ₦24,000,000 based on a budgeted activity…

Eko Processors Limited operates a chemical manufacturing plant situated in Agbara Industrial Estate, Ogun State. The company uses a process costing system to account for its single main product, 'Ekoc…

Kadan Nigeria Limited, a manufacturing company based in Ikeja, Lagos State, produces and sells a single standardized cleaning product named "CleanMax". The company operates a standard costing system. …