Ecr Exam

ma1thew
ma1thew Settling In NicelyRegistered Posts: 22
hi. havn't posted on here before. just wanted to ask how everyone found the exam today?

matthew
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Comments

  • webcop
    webcop Just Joined Registered Posts: 4
    i thought the exam was a lot easier than in june even though there were still a few dodgy questions i think i got the break even question wrong,so mad as i know how to do it.
  • PamB
    PamB Just Joined Registered Posts: 2
    Hi, this is my first time too. I thought it was a lot easier than I had been dreading. not sure about a couple of things but it could have been a whole lot worse.
  • sunny
    sunny Feels At Home Registered Posts: 43
    I feel it a little more difficult than June 06. I tried that one, and felt quite easy.
    But not sure about today's WIP equivalent.

    Do more old exam papers is the best way, isn't it?
  • Amika123
    Amika123 Just Joined Registered Posts: 1
    Ecr Exam!

    :thumbup1:It wasnt too bad just hoping i did enough to pass.The wip i wasnt too sure about,and a few other things.
  • pernickety
    pernickety Feels At Home Registered Posts: 47
    ECR Exam

    First post and first exam today. 20 years book keeping, first module, cost accountancy ECR for 6 weeks. 6 2.5 hour sessions followed by this! Why am I doing this to myself, I kept saying, thinking must be some sort of masochist
    I found the exam really confusing. Might just be me, as was not in a good state. But even in section one; The OAR under or over ? Usually OK arriving at that, but heyl, talk about too much choice, not bad enough having to compare budgeted to actual, but an 'expected' ... not done that before! Then the limiting factor... no not as usual working with units but per 1000! And, finally if that was not all bad enough the final report... gave you a negative net present value.... thrown again in to turmoil... couldn't work out or see if there were any inflows of cash or were all outflows? Mind went blank and was completely thrown again, if I get a pass it will be a miracle. Good job had plenty of correction fluid!
  • Richard
    Richard Trusted Regular Registered Posts: 373
    I found the exam to be pretty much what I expected. Not sure how I did though! Like others, I found the WIP and over/under-absorption questions tricky. I think that I've got part of the Limiting Factor question wrong too.
  • sebastianforbes
    sebastianforbes Well-Known Registered Posts: 172
    the exam was quite straight forward as far as i interpreted it...

    except for the WIP !!!

    what was that about 100% materials, 50% labour ?!!!

    i just ignored it... £ total labour / 7000 litres = £0.53 if my memory serves me correctly ?!?!?!?!?!?!?!?!?!?!?

    apart from that little haddock, we shouldn't be too worried :001_tt2:

    how long to wait for the results ?
  • Richard
    Richard Trusted Regular Registered Posts: 373
    except for the WIP !!!

    what was that about 100% materials, 50% labour ?!!!

    i just ignored it... £ total labour / 7000 litres = £0.53 if my memory serves me correctly ?!?!?!?!?!?!?!?!?!?!?



    I think my answer was £0.50. 7600 (7000 litres completed + 50% of 1200 litres WIP) / total labour.
  • pernickety
    pernickety Feels At Home Registered Posts: 47
    the exam was quite straight forward as far as i interpreted it...

    how long to wait for the results ?

    If you register you can get your results emailed to you. They send them on the evening of the 18th February, to arrive on 19th. Or published on here on the 20th.
  • sebastianforbes
    sebastianforbes Well-Known Registered Posts: 172
    thank you pernickety...

    it was a rhetorical question :lol:

    log into your account /emailmyresults = lunchtime on the 19th feb !
  • Dewey
    Dewey Just Joined Registered Posts: 4
    Reply to Richards thread

    I think my answer was £0.50. 7600 (7000 litres completed + 50% of 1200 litres WIP) / total labour.

    Excellent, that's what I got too, but wasn't very confident.
    The other question I found slightly ambiguous was the under/over adjustment.
    As somebody mentioned we have all learnt how to deal with actual/budgeted activity and overheads, but in my mind both numbers of labour hours were budgeted and so I chose the new expected number of 480 machine hours x £35 per machine hour = £16800. Less £16200 actual expected overheads, giving an answer of £600 over-absorbed. Did anyone get the same?
  • Richard
    Richard Trusted Regular Registered Posts: 373
    Dewey wrote: »
    I think my answer was £0.50. 7600 (7000 litres completed + 50% of 1200 litres WIP) / total labour.

    Excellent, that's what I got too, but wasn't very confident.
    The other question I found slightly ambiguous was the under/over adjustment.
    As somebody mentioned we have all learnt how to deal with actual/budgeted activity and overheads, but in my mind both numbers of labour hours were budgeted and so I chose the new expected number of 480 machine hours x £35 per machine hour = £16800. Less £16200 actual expected overheads, giving an answer of £600 over-absorbed. Did anyone get the same?


    I got £600 over-absorbed too!! At one point I changed it to £100 under, but then changed it back!
  • Dewey
    Dewey Just Joined Registered Posts: 4
    Thank-you for replying, I'll sleep better tonight now.
    Best of luck with your results.
  • juann
    juann Just Joined Registered Posts: 1
    I got the same answer for the absoption question but got WIP wrong.... I just totally blanked out. However, i keep thinking that i missed a question in section one, i can only remember 5 questions. Does anyone remember the questions?

    cheers
  • King of the Mountains
    King of the Mountains Feels At Home Registered Posts: 66
    I got £600 over absorption too. Both figures were budgeted, typical of the AAT just trying to confuse us
  • King of the Mountains
    King of the Mountains Feels At Home Registered Posts: 66
    Think first we had the stock card, 2nd the account entries for stock card, 3rd the wages, 4th the WIP, 5th ..........was it the process cost account??? Can anyone help?
  • Richard
    Richard Trusted Regular Registered Posts: 373
    Dewey wrote: »
    Thank-you for replying, I'll sleep better tonight now.
    Best of luck with your results.

    No problem. Good Luck with yours too - I'm feeling more confident now!!
  • puschkin
    puschkin Just Joined Registered Posts: 2
    The questions on the Dec 2007 paper are almost identical to the Dec 2006 paper with just a few changes. I've just checked the model answers on the 2006 paper to see if I've got the methods right and am pretty happy.
  • sebastianforbes
    sebastianforbes Well-Known Registered Posts: 172
    is this the process costing type of question ?

    input = £9,000 for 18,000 litres
    output = £600 (3,000 @ £0.2.) + £8,400 (15,000 @ £0.56)

    i found it easier to fill out the T-account question first, and then go back one to the mathematical calculation !
  • Dewey
    Dewey Just Joined Registered Posts: 4
    I remember the stock valuation card, double entries of receipts and issues, direct labour cost, WIP, overhead apportionment, machine and labour hour absorption rates, over/under apportionment. Not sure whether the questions about stepped fixed costs were in section 1 or 2
  • Dewey
    Dewey Just Joined Registered Posts: 4
    reply to sebastianforbes

    is this the process costing type of question ?

    input = £9,000 for 18,000 litres
    output = £600 (3,000 @ £0.2.) + £8,400 (15,000 @ £0.56)

    i found it easier to fill out the T-account question first, and then go back one to the mathematical calculation !

    I did the same and got the same answer !!
  • King of the Mountains
    King of the Mountains Feels At Home Registered Posts: 66
    I filled in a t account first then back to it:thumbup1:
  • gramarye
    gramarye New Member Registered Posts: 9
    OMG (as my daughter would say)

    So I did the preparation, I did all the past papers - twice and did all the text book questions, thought I had really got on top of everything. And then I looked at todays paper. Now it may just be me, but that was not written with the same - I'll hold you by the hand and lead you from one question to another attitude that has been the running theme in previous papers.
    Some of the questions really made me think about what I was doing, rather than just regurgitating answers. But all that aside I think i did ok and at least I didn't have to explain the meaning of IRR and having read some of other peoples answers to questions it has set my mind at rest.

    One last thing - the limiting factor question did anyone get £400k profit as the answer?
  • sebastianforbes
    sebastianforbes Well-Known Registered Posts: 172
    i remember £1,040,000 being in there somewhere !
  • gramarye
    gramarye New Member Registered Posts: 9
    £1,040,000 less the £640k fixed overheads = £400k profit?
  • sebastianforbes
    sebastianforbes Well-Known Registered Posts: 172
    i agree on the break-even.

    the mos % - got were something like 43, 55 and 67 ?!?!
  • gramarye
    gramarye New Member Registered Posts: 9
    Breakeven sales - did anyone get 6400
    Being the sales price of 88p less variable costs of 38p = 50p contribution
    2300/0.5 = 4600? I thought it was very ambiguous that we were left to presume he was refering to the table from two pages back. Naughty.
  • King of the Mountains
    King of the Mountains Feels At Home Registered Posts: 66
    Yeh, i had £1,040,000 as the total contribution and then deducted the fixed costs but can't remember what they were.
  • sebastianforbes
    sebastianforbes Well-Known Registered Posts: 172
    wow sara !!!

    that is some memory you have !

    of course, i had the same (yeah right !!!) so i'm not worried as you're putting my mind at ease.

    i've done at least 40 practice papers so i know that i only have the wip wrong. is that called over-confidence ?!!!
  • gramarye
    gramarye New Member Registered Posts: 9
    King of the mountains - MOS%
    I got 10000-4600/10000 = 54%
    14000-4600/14000 =67%
    18000-4600/18000 = 74%
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