Pev
Comments
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I've got £33 for the cost card0
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This is making me want to be sick! :mad2:0
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i got 360 too0
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i feel pretty bad too0
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i didnt get the 389--- i had 360--- for the actual cost at actual production0
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I think your right Emma and there was a 5k difference in variances?0
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Also, my mind went completely blank with the index numbers? I dont want to say what I did incase it is ridiculous. Does anyone want to say what should have been the answers for those?
This is what I did ... not sure if it's right or not but here goes.
Jan 07 .. 4.80 .. I set the index at 100.
June 07 ... 4.95 ... to work out the index I did 4.95/4.80 * 100 (Jan index) = 103.13
Nov 07 ... 5.10 ... index = 5.10/4.80 * 100 = 106.25
Then they said in Jan 08 the index would be 108.25 so I did (4.80 * 108.25)/100 = 5.196 .. I rounded up to 5.20.
To calculate the % rise from Jan 07 to Jan 08 I go (5.20-4.80)/4.80 * 100 = 8.33%. I nearly scribbled it out and put 8.25% (increase in index) but it specifically said increase in price so hopefully 8.33% is right!!
Anyone else get that or am I completely wrong? :001_unsure:0 -
I think the Std cost was 386'400 and there were variances which accumulated to 5'000A so 386400+5000 = 391499 as the Actual costs? But i'm not sure my heads fried!0
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This is what I did ... not sure if it's right or not but here goes.
Jan 07 .. 4.80 .. I set the index at 100.
June 07 ... 4.95 ... to work out the index I did 4.95/4.80 * 100 (Jan index) = 103.13
Nov 07 ... 5.10 ... index = 5.10/4.80 * 100 = 106.25
Then they said in Jan 08 the index would be 108.25 so I did (4.80 * 108.25)/100 = 5.196 .. I rounded up to 5.20.
To calculate the % rise from Jan 07 to Jan 08 I go (5.20-4.80)/4.80 * 100 = 8.33%. I nearly scribbled it out and put 8.25% (increase in index) but it specifically said increase in price so hopefully 8.33% is right!!
Anyone else get that or am I completely wrong? :001_unsure:
Thats exactly what I put.
I also got £33 for the cost card.0 -
This is what I did ... not sure if it's right or not but here goes.
Jan 07 .. 4.80 .. I set the index at 100.
June 07 ... 4.95 ... to work out the index I did 4.95/4.80 * 100 (Jan index) = 103.13
Nov 07 ... 5.10 ... index = 5.10/4.80 * 100 = 106.25
Then they said in Jan 08 the index would be 108.25 so I did (4.80 * 108.25)/100 = 5.196 .. I rounded up to 5.20.
To calculate the % rise from Jan 07 to Jan 08 I go (5.20-4.80)/4.80 * 100 = 8.33%. I nearly scribbled it out and put 8.25% (increase in index) but it specifically said increase in price so hopefully 8.33% is right!!
Anyone else get that or am I completely wrong? :001_unsure:
Ooh, I may have done this right then - I thought I was completely on the wrong track
I did everything the same as you but didnt round until the end so I had £5.196 which gave 8.25%0 -
Tea was 3kg @ £5 = £15
Tea bags 1000 @ £0.006 = £6
Fixed overheards 0.2 hours @ £50 = £10
Was labour 0.2 hours @ £10 then? I can't remember what rate it was per hour but £10 would make it £33 total.
Well I know what I did wrong there then - I had £60 for the tea bags cost! Which is why my standard cost card was £54 over. I read it as £0.06 per bag. That pretty much guarantees my fail0 -
The variances I got were 5000 and 10000.0
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Tea was 3kg @ £5 = £15
Tea bags 1000 @ £0.006 = £6
Fixed overheards 0.2 hours @ £50 = £10
Was labour 0.2 hours @ £10 then? I can't remember what rate it was per hour but £10 would make it £33 total.
Yep £33 looks correct, I also hadn't heard of discounted cashflows but I just wrote the first sensible thing that came into my head!
Overall I think section 1 was OK once I got my head around it, I managed to get the reconciliation to work. Task 1.3 was reasonably straightforward.
I found section 2 OK but it was the report writing where I think I fell down on, the calculations were OK. I recommended machine 2 based purely on GP margin, OP margin and Return on net asset figures.
Hopefully I have done enough to pass.:thumbup:0 -
Hi
does anyone think its possible to pass section 2 if i've added the cost of the new machine to the net assets? I picked machine 1 on the back of this and wrote a long explanation of why!
Yes you can still pass, they would base it on all the calculations from task 2.1and they would look at your written reasoning behind why you chose machine 1, which presumably you did so through the calculations of GP, OP margins and return on net assets.0 -
I got £1,640 (A) for tea bag usage variance. I know one of the others was £10,000 (F) but not sure which one.0
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Hi
does anyone think its possible to pass section 2 if i've added the cost of the new machine to the net assets? I picked machine 1 on the back of this and wrote a long explanation of why!
I called my tutor to ask him and he said it would probably just been seen as a misinterpretation of the task. Unfortunately I have since found out I did the cost card wrong so I will fail now - I doubt they will accept two misinterpretations0 -
FAO Sandy Hall!!!
mowzer, i did this too. Do you think if you added the purchase less depn to net assets and used this figure (incorrectly) to get to the ROCE it would be a sacking offence?0 -
section 2
Hi
does anyone think its possible to pass section 2 if i've added the cost of the new machine to the net assets? I picked machine 1 on the back of this and wrote a long explanation of why!0 -
Thanks, i hope so!
Don't they look at both sections separately, you might be ok if it's your only big mistake0 -
every single pev is like this - includes something really easy to misconstrue gggrrr. i think it is silly as it isn't really a test of what you know, just how you read the english0
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mowzer, i did this too. Do you think if you added the purchase less depn to net assets and used this figure (incorrectly) to get to the ROCE it would be a sacking offence?
I hope not. I think it was a bit unfair because the net assets would obviously include the machines in a real situation, so the only relevant ROCE would include them. However it isn't what the question asked so i'm really scared!!!!!!0 -
Everyone else seems to have done well. I messed up on the cost card, the net assets and just guessed the cash flow question
I have no chance of passing have I as they are all in section 2. I feel terrible - especially as I was pleased with how I did on section 10 -
every single pev is like this - includes something really easy to misconstrue gggrrr. i think it is silly as it isn't really a test of what you know, just how you read the english
I agree its silly because you get worked up about it. I've seen quite a few old questions that i've had to look at really closely, so i suppose we'll just have to hope for the best and hope they're sympathetic0 -
I have just realised that I forgot to multiply the depreciation for both machines by 8, which in turn has made both my gross profit, net profit and ROCE wrong adn hence also the explanantions.
Can you be penalised that much for missing something out?0 -
Hi Emma, I got £386400 for the Standard cost of actual production and think it was £391400 for the Actual cost of Actual production can't remember but feel better that someone else got that!!!0
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