How did the ecr exam go?
Comments
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westendlad wrote: »I'm pretty sure I got those bold figures correct, but what made up the contribution earned again ?
it can be calculated in 2 ways...
original units x contribution
i.e B was ranked first so 500000 x £0.62 = £310000
A was ranked second so could only make 150000 x £1.03 = £154500
or you can use the machine hours allocated x the contribution per LF
i.e B 40000 x £7.75 = £310000
A 30000 x £5.15 = £154500
It doesn't matter, which way you do it they should = the same!0 -
it can be calculated in 2 ways...
original units x contribution
i.e B was ranked first so 500000 x £0.62 = £310000
A was ranked second so could only make 150000 x £1.03 = £154500
or you can use the machine hours allocated x the contribution per LF
i.e B 40000 x £7.75 = £310000
A 30000 x £5.15 = £154500
It doesn't matter, which way you do it they should = the same!
yes I think I got that right, but its the overall profit at the bottom, do you remember what the fixed costs were ?
I think that if I'm going to be marked down for missing the 1000 quid on the last question you pretty much will have to get the other questions correct0 -
From what everyone says, i reckon i got 100%:laugh: figures definitely dodgy on the batch question but i've seen errors on past papers where the assessors report states that several answers are marked correct because of an error in the detail. had most trouble trying to explain the 2 commercial reasons to consider with regard to the investment. in fact i probably only got 95%!!!!!!!!! good luck everyone. lots of whisky now to celebrate the 1st one over and then back to the books tomorrer. good luck everyone!:thumbup1:0
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westendlad wrote: »I'm pretty sure I got those bold figures correct, but what made up the contribution earned again ?
Edit. I must have got this right, but the figures don't ring a bell .......... does anyone remember what the fixed costs were and so the profit ?
The contribution was £464500
Cant remember what fixed costs were £264 sumthin?
The profit was £200 sumthin haha0 -
Plain English?????
I have fought tooth and nail during the course of this year to question the validity of the english on some of the past papers and now I know why I did!!
I agree with all the previous comments - the question was very poorly worded and whichever way you answered the question you ended second guessing:- if you took the question at face value the Variable Costs and Absorbed Fixed Overhead proportions were absurd, but likewise if you second guessed the question and checked forward to ensure sensibility in the £57k batch prime costs x no of batches, then assume their figures were wrong, you may not be correct in doing so and they were just looking to make sure you have the knowledge to divide the total overheads or fixed costs by the number of batches.
I answered with the face value figures, giving £3.20 + £5.00 but I think the comments on both being marked as correct will be true as there seems such a divide.
Well, here's fingers crossed for us all and good luck to all for Wednesday.0 -
Hi, with the contribution question 2.4 when you had to allocate the scare resource of hours (70,000) i first of all worked this out on the budgeted figures as 2.2 as quoted in the question. But after reading the paper again in 2.3 it said that there was a new sales forecast. So I changed what hours to allocate in accordance with this new 'demand'. Im not sure that this is correct though because the question stated 'use your calculation in 2.2' referring to the budgted units/hours. Just didnt want to ignore the fact that there was a reduced demand so why allocate the hours which wont be fulfilled. Think I put 32,000hours to B (ranked 1st) as this was the max for 250,000 units and the remaining to A (38,000). Kept the original answer based on 400,000 for A in pencil and crossed out in the hope they will give me some credit if this is totally wrong! But it was confusing because they always expect you to pick up on variances like this but when they don't ask you to refer to the task it makes your head hurt!westendlad wrote: »yes I think I got that right, but its the overall profit at the bottom, do you remember what the fixed costs were ?
I think that if I'm going to be marked down for missing the 1000 quid on the last question you pretty much will have to get the other questions correct0 -
Hi, with the contribution question 2.4 when you had to allocate the scare resource of hours (70,000) i first of all worked this out on the budgeted figures as 2.2 as quoted in the question. But after reading the paper again in 2.3 it said that there was a new sales forecast. So I changed what hours to allocate in accordance with this new 'demand'. Im not sure that this is correct though because the question stated 'use your calculation in 2.2' referring to the budgted units/hours. Just didnt want to ignore the fact that there was a reduced demand so why allocate the hours which wont be fulfilled. Think I put 32,000hours to B (ranked 1st) as this was the max for 250,000 units and the remaining to A (38,000). Kept the original answer based on 400,000 for A in pencil and crossed out in the hope they will give me some credit if this is totally wrong! But it was confusing because they always expect you to pick up on variances like this but when they don't ask you to refer to the task it makes your head hurt!
I don't think that is correct, mate. When I was doing the past paper for June 2005, I did the same thing, and I got it wrong. You should have used the info in task 2.2. The June 05 question is layed out almost exactly the same way as todays question.0 -
I think I have done ok
The things that worry me are:
The Prime/Marginal/Absorption question....I divided all the figures by the batch..I did not realise that the top two were per batch and the figures seemed so high in relation to the fixed cost to be that way
The NPV question....I left the 100 in...I think I have got the right answer if you were supposed to leave the disposal in but on second thoughts maybe you were supposed to leave it out?
General roundings....on some questions they told you to round to X no of decimal places which I did...on others they left no instructions
But apart from that I think I did ok..so fingers crossed...and best of luck to you all :001_smile:0 -
I think I generally did ok but not sure on the NPV and deffo got payback wrong. Memo didn't go too well either.0
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Good luck to all you that have the FRA to do :001_smile:0
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God I am dreading FRA...I know what I am going to be doing all day tomorrow :ohmy:0
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reckon hayley's right. the most up to date info was the demand when the reduced hours come in i.e. 400000 of B and 250000 of A. I put an asterisk next to me calcs and put 'as per task 2.3' just to clarify. i reckon the reference to 2.2 was in respect of the machine hours per unit and contribution per unit rather than the demand. dunno but not too concerned. ended up making 400000 bottles of B and 190000 of A if i did the sums. contribution per machine hour and contribution per unit woked out right at these levels anyhow. good luck!!0
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seems I am pretty lucky here I have already sat my FRA, you will do fine. Got to admit I found the ECR harder and I'm not very confident I passed.
Good luck to you all. :001_smile:0 -
jeskimosdad wrote: »reckon hayley's right. the most up to date info was the demand when the reduced hours come in i.e. 400000 of B and 250000 of A. I put an asterisk next to me calcs and put 'as per task 2.3' just to clarify. i reckon the reference to 2.2 was in respect of the machine hours per unit and contribution per unit rather than the demand. dunno but not too concerned. ended up making 400000 bottles of B and 190000 of A if i did the sums. contribution per machine hour and contribution per unit woked out right at these levels anyhow. good luck!!
Check the answers to June 05. Its pretty much the exact same question, and they use the info from 2.2... Although knowing my luck, they'd have changed their minds and marked me as wrong!0 -
I'm hoping they will give credit for both. I must have crossed both out at least five times whilst deciding which one to go with! The fact that they didnt give reference to 2.3 makes me think that this should be discarded but im pretty sure the reduced sales forecast was an actual statement rather than a 'what if' scenario. It wasn't clear enough really.
Think this exam had a few querks which may have been there to throw us intentionally, especially with the marginal/absorption costing task and also for the MOS% it stated give your answer to 2 decimal places however both of mine came to 1 decimal place which made me doubt the answer as usually when they specify a number of decimal points at least one of the answers complies.0 -
Think this exam had a few querks which may have been there to throw us intentionally, especially with the marginal/absorption costing task and also for the MOS% it stated give your answer to 2 decimal places however both of mine came to 1 decimal place which made me doubt the answer as usually when they specify a number of decimal points at least one of the answers complies.
That threw me as well and I tried re-doing the question about three times but always came back to the same answer, so I think you are right - they were just being dicks.0 -
hi hayley
i got the same figures 32000 and 38 000 but i think london matt is right:(0 -
I got that answer too Artist! :-)0
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