PEV Exam - what did you think?
Comments
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net assets? was it jus the return on net assets percentage tht u worked out when you has worked out your gross and operating profit again? im guessing you might have to have adjusted your net assets by the profit change which i completly forgot about if we did, bummer.0
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I didn't have a clue on question 2.3 and just threw down a load of numbers, not even attempting b) and c). My head hurt too much by then.
I am reasonably confident on the rest of the paper, though, so hope the last question didn't carry too many marks. I would agree that (apart from the last question) the paper seemed easier than past papers I've looked at.0 -
Hi
I got two £0 variances too. I thought i had made a mistake as I had not seen that in past papers, but there is a first time for everything. I checked and checked again hope we are both right !
Tracy0 -
I got two nil variances as well.
In the question about explaing the variances to the trainee, the nil variances balanced to the total variances.
Does anyone know what date in feb it is?
Mart0 -
yea i got two nil variances, wudnt balance when tried to reconcile but didnt have to, and checked my workings and they looked right so may have just been one of those exam moments.
paper was pretty straight fwd until the end part of section 2 which was just a nightmare, went to see me lecturer after and he reckons that av managed to blag it somehow though0 -
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PEV Section 2
I really struggled with the last page on section 2. I honestly don't think that I have covered discounting factors. I mentioned this to the person monitering the exams (can't remember what you call them) he let me make a note of it and he is going to pass it on the the AAT.
Has any one else covered Discounting Factors ?
I just ignored that part and did the calculations on labour saving without that, I stilll recommended that we should invest, as the labour savings more than covered the cost of the machine. Is that ok, maybe I will still get some marks !!0 -
Ah, cheers Lork!
Gotta get through Thursday though first (PCR)
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I cant remember if we did discounting factors this year or in intermediate. I think it was a discounting factor of 5% so i put the purchase in year 0 so didnt discount it, then the rest i put 30000 each year exept for the last where i took off the 50000 so just worked out the discount on (20000).
On the next one i got a saving of 105000 each year over the 5 years. Dont know if this is correct but i suppose it was one question0 -
Yeh. it's in unit 6!! I think it was mean to put that in, right peeved. It wouldn't have mattered how long I revised, I still wouldn't have gone over that.0
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i put the purchase price through as full year 0, then discounted the 30,000 each year at the relevant discount factor, ie 0.982 etc. less the residual value at the end undiscounted. and then there was 3hour saving per unit 15000 hours per year which i also discounted.0
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jamiej87, I think you are right. I did similar but discounted the puchase price too! Doh!0
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Something in the region of £1.9m. I took out the old net profit figure and replaced it with the new one.
I think i got something like that roughly, cant remember what the Net assets were before but I subtracted the old Op profit and replaced it with my new Op profit that I had worked out0 -
Damn!!!!! I worked so hard on this exam and I was confidence that I will sail through the exam without any hurdle. But the section 2.3 really knocked me over.
Also reading through this thread I have realised I have messed up on the variance section. The variance question about how does the variance effect P&L account. As for this question I just briefly explained about adverse and favourable. I could shoot myself!!! Looks like a resist in June!! AAAArrgghhh
:mad2:0 -
purelimituk wrote: »Damn!!!!! I worked so hard on this exam and I was confidence that I will sail through the exam without any hurdle. But the section 2.3 really knocked me over.
Also reading through this thread I have realised I have messed up on the variance section. The variance question about how does the variance effect P&L account. As for this question I just briefly explained about adverse and favourable. I could shoot myself!!! Looks like a resist in June!! AAAArrgghhh
:mad2:
thats all it asked for, wot i did nyway0 -
On the question where you had to show the total material variance split into price and usage for the student mine didn't balance?!!! was it supposed to? Did anyone else have trouble with this?0
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Polymer xx wrote: »Do you reckon Sandy will do the answers?
Who is this Sandy and when will he/she do the answers? Has she/he done this before?0 -
Sandy is a tutor who posts on the forum. He has asked for proof readers for this exam (there's a thread somewhere on this forum) so I believe he will make his answers available at some point.0
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Sandy
sandy@sandyhood.com
www.sandyhood.com0 -
hi guys dnt any1 think that they made mistake in the trend questions as they said the price was 12 i think it should of been 11.90 (given)0
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Yes, I noticed that too. It certainly fills you with confidence when you spot an error, doesn't it?!0
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cheers ro reply to my message. I hope we have got it right mate. fingers crossed!0
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On the question where you had to show the total material variance split into price and usage for the student mine didn't balance?!!! was it supposed to? Did anyone else have trouble with this?
I don’t think we had to reconcile the variances as there was no question based on net operating factor. Anyway, it couldn't balance as it didn’t ask for variances on paint.
However, we had to work out variance on paint but that was later part of the exam.0 -
Thanks for reply x0
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purelimituk wrote: »Damn!!!!! I worked so hard on this exam and I was confidence that I will sail through the exam without any hurdle. But the section 2.3 really knocked me over.
Also reading through this thread I have realised I have messed up on the variance section. The variance question about how does the variance effect P&L account. As for this question I just briefly explained about adverse and favourable. I could shoot myself!!! Looks like a resist in June!! AAAArrgghhh
:mad2:
The paper was pretty standard, a lot or writing, however the final task -I've studied hard for this exam, covering everything, why on earth have they included unit 6 costing? I've spoken to other people in my class and they feel the same. Discounting isnt even in the textbook for this unit, we havent covered it in class and now I'm very worried that not passing the final task will fail me on that section. :thumbdown: bad choice AAT.0 -
PEV Section
Can anyone remember what they got for thier performance indicators?
I got the following:
56.33% 60.33%
23% 20.33%
£60.00
£14.00 £35.00
£13.33 £24.00
20.56% 16.01%
41 days 73 days
I wrote it down on scrap paper!!?:0 -
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I reconciled them as follows:
TotalVarriance 0.5X2100X£25 = £26250 - £29900(actual) £3650A
Price 1150 x (26 - 25) = 1150A
Usage (1150 - 1050) x £25 = 2500A
Don't know if this is right or not just made it up??0
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