PCR

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    we was given the cost per closing stock
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    was we? are you sure that wasnt absorption cost?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    yes it was, i though the question said " total absorption cost of finshed stock" and the data said
    finshed stock valued at 45 & 60 per unit.
    I then just did finshed stock x 45 & 60
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    wait im confused - are you saying "absorption cost of finished stock", or "cost of finished stock"?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    absorption cost wasnt it ?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    It gave us the value of the finishing stock at the beginning of period 7. This wasn't closing stock but the finished opening stock of period 7.

    All we had to do was to multiply the closing stock with the value they gave us, ie £45 and £60.

    Anyone else agree?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    Yes that is what i did. sorry i am confusing myself
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR
    WATERFALLS wrote:
    It gave us the value of the finishing stock at the beginning of period 7. This wasn't closing stock but the finished opening stock of period 7.

    All we had to do was to multiply the closing stock with the value they gave us, ie £45 and £60.

    Anyone else agree?


    aarrrgggh.....

    this is the OPENING stock of period 7
    or the CLOSING stock of period 7?
    we calculated the closing stock of period 7, we were given the OPENING stock of period 7

    AARRRGGHHH I NEED TO KEEP OFF THESE FORUMS!! :lol:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    Yep, they gave us the opening stock and we worked out the closing stock.

    The question asked us to calculate the value of the opening stock. Therefore we just multiply the opening stock by £40 or £60.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    ah yes

    its coming back to me now in a blur.....!

    :lol:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    Yes the 45 and 60 were for the opening stock, we had to calculate our own closing stock from the tasks provided
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    yes, we did. and i did. and im not stressing anymore coz today my boss said he would pay for CIMA..
    :D
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    There was two questions in there, one asked for the abosrbtion cost of closing stock/opening stock (cant remember which).

    THe other question asked for the total abosrbtion cost. 8)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    I was very confused with task 1.2 and answered it as I thought. I am glad to know that i was not the only one who struggled. I showed all my workings so hopefully the AAT will be lenient, especially if most students struggled. I found that the limiting factor was labour hours. I also found that there was only 30 hours available to make more Sigma's but the question threw me and i didn't think that that could be right. I then struggled on the revised budget and totally gave up on it. I was annoyed considering i had done lots of practice exam papers before the exam and never really struggled with limiting factors and revised budgets. Knowing what i know now i wished i had trusted myself and calculated it any way. I also put down employee temporary staff and employee more full time staff to reduce the overtime hours needed.

    The last section of the paper asked about a Capital budget, i was not aware of studying this either so i just talked about capital in general. You don't get marks for putting nothing down.


    I am sure that we have all done better than we thought, and remember we are not alone. I am worried that i might fail this exam again as this was a re-sit. My last exam too so i am counting on this.



  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    It was a lot simpler than the December 2005 exam, unless my revision was better this time around :oops:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR

    I thought it was quite easy, but I hated the capital budget question. I put down that the operating budget was to deal with day to day purchases and sales and that the capital budget dealt with the assets held by the organisation including the net book value of fixed assets. Also that the operating budget is more fluid in the sense that it changes more regularly than a capital budget would.

    I got very very confused about the question that asked to value the closing stock at the beginning of the period. I wasn't sure whether it meant beginning of period 7 or beginning of period 8. I thought it was strange that the question was asked once the period 7 calculations were made, which gave the impression that they were asking us to calculate the period 8 opening stock. Anyway I wrote a whole waffly essay about the question not being very clear and I gave two different responses depending on what they were asking!!! Yep, I can waffle!
    :lol:

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