Pev
Comments
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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 1
I hate that it isn't just all marked as one paper. i suppose if you think the worst you'll either be prepared or pleasantly surprised. I know i'm not being too hopeful, just forget about it for now, but that's easier said than done!!0 -
Yes it worked I had a 5000 Variance can't remeber which way though so Actal could have been different but I definatley got £386400 for one of them!0
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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!!!
I don't recognise those figures but at the same time I can't remember what I had - I just know it balanced with all the variances on there!
The production was 84,000 right so did the standard cost card show £4.60?
For the actual cost of actual production did you take out the closing stock of 50,000 tea bags @ £0.033 each?0 -
I definitely didnt get 391400 for the actual - Im sure it was 389 something or 398 something. doesnt matter anyway though as I have failed
Oh well, onto PCR revision0 -
Emma, you may not have failed if you reconciled, oh well we'll find out soon enough!!0
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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?
No, you can only lose 1 mark for not multiplying the depreciation by 8, aslong as you calculated gross profit, net profit and ROCE using the figures which you calculated as being correct then you shouldn't lose too many marks.
The AAT aren't looking for 100%, they are looking for correct application of knowledge.0 -
I agree the PEV exam was a complete nightmare, i have been revising for the past month trying to get this right as i failed in the summer.
the paper was too long and unfair!
Thanks AAT for giving us an awful paper - now i dont know if i have the motivation to sit this exam yet again!
i am supposed to start the ACCA exams in June but if i fail this then i cant do them and all the classes and work i have done so far will be a waste of time.
You sound like I feel. What parts do you think you did wrong?0 -
i had 386 standard and 391 actual. all i can remember was i had capacity as £10,000 favourable.0
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I agree the PEV exam was a complete nightmare, i have been revising for the past month trying to get this right as i failed in the summer.
the paper was too long and unfair!
Thanks AAT for giving us an awful paper - now i dont know if i have the motivation to sit this exam yet again!
i am supposed to start the ACCA exams in June but if i fail this then i cant do them and all the classes and work i have done so far will be a waste of time.0 -
I have failed for sure! I got so confused by the first section, I paniced!!! I can't even spell that now! I messed up the tea bag usage variance, my reconciliation didn't balance! I didn't multiply the depreciation by 8! The score card is completely wrong, due to the tea bags! I did not like that paper! but I think if I sat it again now and thought about it logically, I think it would be ok! but I didn't! I'll be resiting in june!0
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as for this stock people are talking about taking it out of costs why?
am struggling to grasp it.
i left it in as it was actual cost of production not cost of sales.0 -
chappy1987 wrote: »as for this stock people are talking about taking it out of costs why?
am struggling to grasp it.
i left it in as it was actual cost of production not cost of sales.
Well took it out because it asked for actual cost of actual production and the closing stock wasn't used in production of the 84,000 boxes. It balanced ok with it out.
If I left it in I was £1,650 out and the only variance I had for that amount was tea bag usage (£1,650 (A)). If I took that out it made the difference worse!0 -
ye 3330 adverse. but it said they produced 8500000 which ment 85000 boxes anyway sure that wont mean it a fail either way0
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chappy1987 wrote: »ye 3330 adverse. but it said they produced 8500000 which ment 85000 boxes anyway sure that wont mean it a fail either way
I'm with you on this one Chappy, 3330 adverse.0 -
I'm not convinced you were supposed to leave the stock in the actual cost of actual production ... I can't see how you would have been able to reconcile it. I'm fairly sure my fixed overhead variances were right as I did the volume = efficiency + capacity agreed and the only other one we had to calculate was material usage variance which I go £1,650 adverse ...... anyone else get that?
I know my total favourables were £10,900 but can't remember what my total adverse was.0 -
i think I got 386200
391200
giving a variance of 5000.0 -
I think we are confusing to different things with stock.
Closing finished stock has been through the production process, and therefore it would be included in any operating statement.
Closing raw material would not be as it has not been used at all, therefore it is not part of finished production.0 -
sure it said had been produced meaning finished bags which i pressumed nothing had to be done with it neway it reconciled shud be marked down much on it.0
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I'm not convinced you were supposed to leave the stock in the actual cost of actual production ... I can't see how you would have been able to reconcile it. I'm fairly sure my fixed overhead variances were right as I did the volume = efficiency + capacity agreed and the only other one we had to calculate was material usage variance which I go £1,650 adverse ...... anyone else get that?
I know my total favourables were £10,900 but can't remember what my total adverse was.
I agree with you - the closing stock was not used in production so I counted the number used for production as 8450000 (think it was that figure anyway!) Do you remember what your total actual cost was?0 -
I agree with you - the closing stock was not used in production so I counted the number used for production as 8450000 (think it was that figure anyway!) Do you remember what your total actual cost was?
No I don't I'm afraid
I can hardly remember anything from that question, I just know it reconciled! 0 -
If you leave some of the paper in pencil is that ok?
i no that is says "we strongly recommend pen is used instead of paper"0 -
Ema
I've got the same figures as you0 -
I was fanatically trying to erase my pencil at the end!0
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PEV - Workings
Please can someone put my mind at rest!! I sat the PEV exam this morning and instead of showing all my workings within the format of the answer, I put them on the back page of the answer booklet and referenced them to the question ie. for example Task 1.1 (i) W1 and showed W1 against my answer. Would this constitute a fail!!!
:001_unsure:0 -
As long as you have shown your workings somewhere, you will be fine.
It's natural to assume because the paper was hard and people have different answers etc that you have failed. When I published my suggested answers in June for the DFS paper, I think out of all the queries/comments I received nearly all of them (certainly 80%) were convinced they had failed.
None of those who were convinced they had failed actually did fail - they passed.
Try not to dwell too much on it now - there is absolutely nothing you can do about the paper other than wait for results day.
Best regards
Steve0 -
I would always suggest you show your workings on a separate page anyway because it makes it easier to read. If you show your workings within the body of the answer it can sometimes be difficult as you are all over the page.
You have made it easier for the marker by doing it your way.
However, those of you that didn't do it this way - don't panic - as long as you showed your workings somewhere (whether it be in the body of your answer or on another page) you will be fine.0 -
PEV Workings
Peugoet - thanks for that, I have been worried about it all afternoon - starting to feel rather sick!!
Regarding the paper, welll thats another thing. I have been studying by distance learning for this paper and the PCR on Thursday and I do find it hard work. I am trying not to think about the answers to the questions - part one was a bit of a nightmare, part 2 not too bad but I did manage to answer all of the questions and am just not sure that I have done enough.
I was just more worried about not showing my workings within the answer of the question.0
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