Best Of
Re: Ledgers & dead/clic
Note that the 'sides rule' of DEAD/CLIC relates to *Increases* in Expenses/Assets/Drawings (being on the left-hand side, the Debit side) and Liabilities/Income/Capital (being on the right-hand side, the Credit side). If any of EAD/LIC are Reduced, the side of the entry is switched.
sjtoomer
2
Re: Applied Management Accounting, work book
Hi @emanneh
I hope you are well?
Please see below the answer to the question, answers to April
Sales: Budget for the year £540,000 / Units sold 36,000 = £15 per unit. So for April it would be 3,000 Units x £15 = £45,000
Material Used - You have been told each unit requires 1.5kg costing £1.80 per kg. So you have been told that you have produced 3,500 units. Now to work out the kg used. 3,500 units x 1.5kg per unit = 5,250kg of materials used. Now to work out cost - 5,250kg x £1.80 = £9,450
Labour - You have been told each unit takes 15 minutes. We have produced 3,500 units. So to work out the time it would be 3,500 units x 15 mins = 52,500 minutes. Now we need to convert this into hours. So you would do the following - 52,500 mins / 60 mins (to convert to hours) = 875 Hours in total. You have been told basic hours avaliable in April is 800 hours. This means that 75 hours must be overtime hours. So to work out the basic hours it will be 800 hours x £12 basic rate (provided in your question) = £9,600. Overtime hours will be - 75 hours x £18 (£12 basic + 50% more than basic (£6)) = £1,350. Now add up the £9,600 + £1,350 = £10,950 is the labour cost in April
Variable Production Overhead - Relates to the labour hours worked including overtime. So for the year you have been told £20,000 for the variable production overhead and the labour for the year is £122,400 and labour for the month we worked out previous as £10,950. So to work out labour overhead for April it will be (£20,000 / £122,400) x £10,950 = £1789.21 (to 2 decimal places) or £1,789 (rounded to whole pound)
Fixed Production Overhead - Evenly spread throughout the year - So this would be - £18,000 / 12 months = £1,500 for April
I hope this helps you out. If anything is wrong do feel free to let me know I can look into it.
Many thanks
Shamil
I hope you are well?
Please see below the answer to the question, answers to April
Sales: Budget for the year £540,000 / Units sold 36,000 = £15 per unit. So for April it would be 3,000 Units x £15 = £45,000
Material Used - You have been told each unit requires 1.5kg costing £1.80 per kg. So you have been told that you have produced 3,500 units. Now to work out the kg used. 3,500 units x 1.5kg per unit = 5,250kg of materials used. Now to work out cost - 5,250kg x £1.80 = £9,450
Labour - You have been told each unit takes 15 minutes. We have produced 3,500 units. So to work out the time it would be 3,500 units x 15 mins = 52,500 minutes. Now we need to convert this into hours. So you would do the following - 52,500 mins / 60 mins (to convert to hours) = 875 Hours in total. You have been told basic hours avaliable in April is 800 hours. This means that 75 hours must be overtime hours. So to work out the basic hours it will be 800 hours x £12 basic rate (provided in your question) = £9,600. Overtime hours will be - 75 hours x £18 (£12 basic + 50% more than basic (£6)) = £1,350. Now add up the £9,600 + £1,350 = £10,950 is the labour cost in April
Variable Production Overhead - Relates to the labour hours worked including overtime. So for the year you have been told £20,000 for the variable production overhead and the labour for the year is £122,400 and labour for the month we worked out previous as £10,950. So to work out labour overhead for April it will be (£20,000 / £122,400) x £10,950 = £1789.21 (to 2 decimal places) or £1,789 (rounded to whole pound)
Fixed Production Overhead - Evenly spread throughout the year - So this would be - £18,000 / 12 months = £1,500 for April
I hope this helps you out. If anything is wrong do feel free to let me know I can look into it.
Many thanks
Shamil
Re: Business TAX - is this wrong? (Practice assessment 1) - mark scheme 1
@anony123 you're right! it really confused me as I had not learn that way as I am using the Kaplan books, makes sense now. Thank you for your help 
Re: strategies for securing my first job in accountancy.
Hi @buslaefff
It is a difficult market right now, you are not alone trust me. Keep applying around you will get there.
Have you tried other websites like Reed, Total Jobs, CV Library?
Are you on Linkedin, if not create a profile, upload your CV, talk to finance recruiters on there, they are all on there and they will be able to assist you.
Your first role will most likely need to be a Purchase Ledger Clerk / Assist, or Sales Ledger Clerk / Assistant or Finance Assistant then from there you will grow.
I hope this helps you out.
Kind regards
Sham
It is a difficult market right now, you are not alone trust me. Keep applying around you will get there.
Have you tried other websites like Reed, Total Jobs, CV Library?
Are you on Linkedin, if not create a profile, upload your CV, talk to finance recruiters on there, they are all on there and they will be able to assist you.
Your first role will most likely need to be a Purchase Ledger Clerk / Assist, or Sales Ledger Clerk / Assistant or Finance Assistant then from there you will grow.
I hope this helps you out.
Kind regards
Sham
Re: Merit and Distinction Rates for Level 2 and Level 3 Bookkeeping Exams
It’s on each separate model. Go to where the markers anaylse lasts years results. It is like a summary right at the bottom. It shows graphs of overall percentages and on what questions people scored well on and worst at.
anony123
1
Re: Variable cost per unit calculation.
The 7.80 is using the high low method or semi variable method. High cost - low cost/ high units - low units.
26420- 24…
/1400-1200
26420- 24…
/1400-1200
anony123
1
Re: New to Level 2 AAT
> @anony123 said:
> Ohhh that doesn’t help me.
>
Okay? It wasn’t meant to help you? I was answering loren1210’s post with tips that I found helpful? And allegedly you’ve done L2 and L3 so it’s not relevant to you anyway?
> Ohhh that doesn’t help me.
>
Okay? It wasn’t meant to help you? I was answering loren1210’s post with tips that I found helpful? And allegedly you’ve done L2 and L3 so it’s not relevant to you anyway?
Sabbiem
1