PCR Dec Exam 05-Notes
System
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Hi I've just typed these out for my own info from what came up in Dec 05 but thought I'd share them with the forum. :)They just list what came up but I've been filling in the formula etc... Good Luck to everyone sitting PCR Tomorrow!
Notes for PCR Exam December 2005
Production Budget
Material Purchase Budget
Cost of labour budget
Labour hours budget
Budgeted Marginal Cost
Unit cost of each item
Budgeted Operating Statement showing:
Turnover
Total Expenses
Contribution
Calculate maximum production using labour hours if this was the only constraint
Calculate maximum material available if this was the only constraint
Calculate fault free production
Calculate selling price per unit
Material cost per unit
Labour cost per unit
Variable cost
Fixed costs
-using actual and budgeted figure
Draw a flexible budget showing...
Budgeted Turnover
Budgeted Marginal (or variable cost)
Budgeted Contribution
Budgeted Operating Profit for the year
then also calculate...
Actual Turnover
Actual Marginal Cost
Actual Contribution
Action Operating Profit
Show any variances between the two budgets
Comment on differences between the two budgets
Identify which statement helps when trying to control costs and which statement is more accurate flexible or actual?
Notes for PCR Exam December 2005
Production Budget
Material Purchase Budget
Cost of labour budget
Labour hours budget
Budgeted Marginal Cost
Unit cost of each item
Budgeted Operating Statement showing:
Turnover
Total Expenses
Contribution
Calculate maximum production using labour hours if this was the only constraint
Calculate maximum material available if this was the only constraint
Calculate fault free production
Calculate selling price per unit
Material cost per unit
Labour cost per unit
Variable cost
Fixed costs
-using actual and budgeted figure
Draw a flexible budget showing...
Budgeted Turnover
Budgeted Marginal (or variable cost)
Budgeted Contribution
Budgeted Operating Profit for the year
then also calculate...
Actual Turnover
Actual Marginal Cost
Actual Contribution
Action Operating Profit
Show any variances between the two budgets
Comment on differences between the two budgets
Identify which statement helps when trying to control costs and which statement is more accurate flexible or actual?
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