PEV Exam - what did you think?
Comments
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I think I got £30 BOAR.
What did people recommend for the last question? To invest or not?0 -
I recommended to invest.0
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I think, as the question was difficult, it doent really matter whether you say to invest or not, i think i depends on your answer.... If the answer is incorrect, i think you only loose marks for that part. If you then go on to say you would invest, even if the model answers are saying that you shouldnt, you are maked on the ability to answer the question using your own figures???? I think??? lolI think I got £30 BOAR.
What did people recommend for the last question? To invest or not?0 -
the amount was to be discounted each year was it not.0
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Because I multiplyed the comissionig costs (or what ever it was) by 5 years0
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I think I got around £350k for the last Q..but that included me discouting the purchase by year 5...which I think was a mistake.... my labour savings were 450k.. I said they should invest as overall there was a saving of about 95K0
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Nasty question, I'm sure we'll all get at least some marks, and even if not, you only need 50% of each section, and the first half of section 2 was easy... wasn't it?0
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x-lauren-x wrote: »I think i got over 400K too?
My apologies I've made a complete disaster of the lifecycle costing question. For some reason I've worked out how much the machine would be worth at the end of the 5 years, don't know what I was thinking....0 -
Thanks..Ive just realised that I've done that question completely wrong! - Oh well..they carry over answers don't they?
I got labour savings of £70,000 a year. Is that right? and then I multiplied this by each year's discount factor.0 -
It was 75% for each section in the June Exam.... as I appealed and they said I only got 60% but needed to get 75%0
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I also got £30 because you work it out from the budget figures.0
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£7 per hour x 3hrs per solar panel x 5000 solar panels wasnt it???
210 x 5000 = £105000
For labour0 -
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I think the total cost of the new machine cost £370,000 on my answer and i worked out labour savings being £70,000 a year which would be a saving of £350,000 in total so I didnt invest as the machine cost didnt cover the savings0 -
Nicolaw1702 wrote: »I also got £30 because you work it out from the budget figures.
Are you talking about the absorption rate?0 -
It was 75% for each section in the June Exam.... as I appealed and they said I only got 60% but needed to get 75%
I got told by my lecturer guy that you need 50% of each section. - He could be wrong though.
The way I saw the last part was:-
Work out how much costs were in each year.
1;- £300,000 + 30,000 X 0.9xxx
2;- £30,000 X 0.9xxx
etc etc
Then add up the total discounted costs.
Then for the next question,
1;- 3hours saved @ 7ph x 5000 x 0.9xxx
etc etc
Then total the discounted savings?0 -
I thought the exam was ok but stumbled on the last question too - But as the £30k cost would logically increase each year I calculated each one individually by the discount Factor - So that would be well in excess of £30k per year by year 5. Added this to the cost of £300k + 5 x £30k plus discounting so approx £470k shall we say less the residual (which I didn't know whether to apply the factors too - less the labour savings - All calculated per year times the Discount factor - My result was the savings outweighed the exp so I said based on these two factors alone to invest - I have no idea if this is correct or not???
Just ran it past my boss and he said that costs were estimated at 30k per year they would (under normal economic conditions) be expected to increase over time - So I am hopeful - Same with the labour saving - 3 hours labour saving this year would cost more next year due to pay rises
Who knows?0 -
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what is the 0.9? missed something here?0
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Yes Debs,
£30 for the overhead abosrption rate!
I also got the labour savings to be £105,000 a year on last question.0 -
That's what i got. Good news0
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x-lauren-x wrote: »what is the 0.9? missed something here?
The discount factor. not sur eon exact figurees though.
There was a table
year factor
0 1
1 0.987
2 0.907
3 0.854
etc (just examples)0 -
oh ok, cheers, yeah i got that!0
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This was the discounted factors for years 1 to 5 - there were 5 of them - well 6 if you include the factor of 10
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yep, i discounted each year seperately..... rather then the whole lot! Seems everyone is confussed by this question0
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did anyone inflate their labour savings year on year - As surely this would be the same principle as the yearly costs rising - We would expect labour rates to rise - So 3 hours per unit saving this year would save us more next year?
If not - I am defo gonna fail this question?0 -
i diddid anyone inflate their labour savings year on year - As surely this would be the same principle as the yearly costs rising - We would expect labour rates to rise - So 3 hours per unit saving this year would save us more next year?
If not - I am defo gonna fail this question?0
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