PCR - June 05, help please!!
nikkym
Registered Posts: 11 New contributor 🐸
:huh: Please can someone explain why the budgeting operating statement in task 1.1 is set out differently????
CONFUSED - PLEASE HELP!!!
CONFUSED - PLEASE HELP!!!
0
Comments
-
Help!!
Nicky! I thought that June 05 was the way to do it!
If you look at the blog for june 07 others think thats the way to do it too!!
SO SO SO CONFUSED.
I thought that you have you sales.
Then to get COS
have your opening stock
Add the cost of production
Less the closing stock
Then Sales less COS equals profit! Is this not the way you would do it?
If anyone else can help please do, its desperate times!!:001_smile:0 -
Other people have been posting:
Turnover
less cost of production
less opening stock
add closing stock
equals profit
I thought that this was the way to do it??
xx0 -
This is what a member posted on the June 07 exam, so surely the operating statement (layout wise, not figure wise) should be the same for the 05 paper:
I am struggling with the same thing it doesn't seem to make sense to me.
This is what I got for profit based on the calculations provided:
Standard
Sales £206,550
Less Cost of Production £175,240
Less Opening Stock £13,457
Add Closing Stock £13,978
= profit of £31,831
Luxury
Sales £331,500
Less Cost of production £222,852
Less Opening Stock £16,785****
Add Closing Stock £17,750
= profit of £109,613
For opening stock I personally calculated it as £16,780.
So I am REALLY confused!0 -
Thanks!
PCR has really caused some problems over the last few days....
...almost over now!!!
Good luck
x0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 325 NEW! Qualifications 2022
- 160 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 95 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 273 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.2K General accounting discussion
- 202 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership