Pev & Pcr

welshboy

Is it just me or is anybody else really hating revising for PEV & PCR.

Paul24

welshboy wrote: »

Is it just me or is anybody else really hating revising for PEV & PCR.

What areas are you struggling with? Can I offer any help?

welshboy

Thankyou Paul,

I think I will be okay it's just that I don't do much costing within my role so this is taking me time to understand the fundamental grounding of each part.

I think this is just a subject you need to keep doing and breaking the paper down into each part to understand.

Thankyou for the offer just feeling a bit frustrated by it all at the moment as these are my final exams.

Many Thanks

Matt

taskey

i feel the same at the moment. i am still going from my books, i have not even started doing past papers yet.

just over a month and i think i might have to start panicking.

there just seems to be loads to remember and where to use it.

Tracy

welshboy

I am the same Tracey.

I have read the book twice now pev is starting to sink in yet PCR seems to be so much to explain and lots more written answers within the exam papers.

5 weeks to go including this week and the stress is starting to build up.

Im sure we will all be okay.

Paul24

welshboy wrote: »

I am the same Tracey.

I have read the book twice now pev is starting to sink in yet PCR seems to be so much to explain and lots more written answers within the exam papers.

5 weeks to go including this week and the stress is starting to build up.

Im sure we will all be okay.

Well good luck, but any queries between now and the exam, post on here, or pm me.

Paul

gingervicki

i am feeling really low about it all

im the same really, nothing seems to be going in, i was pregnant through most of this year and i cant seem to find any information in my head

none of this is in my normal work so its all a bit alien to me, today after trying a passed paper with what i though i understood i couldnt do it.

the main area of concern is absorbed things i just dont get it.

can anyone cheer me up and point me in the right direction, i was all for giving it in earlier but i feel like i have come so far

thanks

vicki

Paul24

OAR = Budgeted Fixed Costs / Budgeted Activity

What specifically are you stuck on, I could write reams on here, but I dont know what you dont know :-)

PAMDILL

i do costing as part of my job but it is the fixed overhead variance formulas that get me.

gingervicki

Paul24 wrote: »

OAR = Budgeted Fixed Costs / Budgeted Activity

What specifically are you stuck on, I could write reams on here, but I dont know what you dont know :-)

i have got this table to try and help..

S tandard 1 Efficiency variance
A bsorbed 1 efficiency variance 2 capacity variance
B ugeted 2 capacity variance 3 exp variance
A ctual 3 exp variance

ok so i put the budgeted and actual figs in later enabling me to work out the variances ( as shown) but i dont get how to work out the absorbed figs and im still stuggling with the standard ones too

i tried using my table for the 2008 exam and really came unstuck


vicki

taskey

hi do you have that in excel that you could send to me or could you explain it a bit better for me.

Thanks

Tracy

Saz

Me too!

Me too, I'm really panicing about these 2 exams, thought the BTC would be the hardest but that was easy compared to these! Have now just started doing past papers and realised how little I still know (

PAMDILL

gingervicki wrote: »

i have got this table to try and help..

S tandard 1 Efficiency variance
A bsorbed 1 efficiency variance 2 capacity variance
B ugeted 2 capacity variance 3 exp variance
A ctual 3 exp variance

ok so i put the budgeted and actual figs in later enabling me to work out the variances ( as shown) but i dont get how to work out the absorbed figs and im still stuggling with the standard ones too

i tried using my table for the 2008 exam and really came unstuck


vicki

That is about as clear as mud to me.

dobbieobby

Ditto, one minute I think I have the first section of PEV, then I do another past exam and it means NOTHING.
I get the lay out cant always be the same as that wouldnt happen in real life, just give us a clue!
When it says stuff like: standand usage of materials for actual production I'm stuck.
I GET it means get the single price of the bugeted kgs and times it by the actual price, but EACH time I somehow get it wrong! I'm starting to REALLY panic now!!

Paul24

Std use for actual production is how much you SHOULD have used to yield the ACTUAL output.

Example

Component X requires 25kg of raw material

Actual production was 1000 units using 26000kg of raw material

The standard useage for actual production would be (25kg * 1000) 25000kg

The 1000kgs extra used to yield the required qty of components would therefore be multiplied by the Std Cost per kg, to show an adverse material useage variance (you used more than you should have according to the standard)

dobbieobby

See Paul, that's the thing (EXCELLENT example by the way) I GET it, I just cant DO it correct everytime!

Paul24

All I can reccommend it question practice again and again.

Paul

gingervicki

ill put it on a sheet and you should be able to see what i mean, its so easy to use too!!

vicki

gingervicki

PM me your addy and ill send it to you, had to do it on paint as i cant find my excel, my pc is playing up.

vicki

PAMDILL

I can get the concept of the material and labour variances and even work them out and understand them it is the fixed overhead ones that cause me problems.

taskey

i am really strugling with absorption - i think i am in my head making it far harder than it actually is.

i can do some of the variances, but when you look at the answers they have it laid out differently.

in my bpp text is shows
should have cost xxx
did cost xxx

but in the answers it just gives the figures
xx.xx / xx.xx = xx.xx

which way is best? i am thinking more is better as even if the answer is wrong you might get the markrs for the correct workings?

what do others think?

tracy

PAMDILL

I have been doing the past papers with laying out everything in the answers as I am pretty sure I am going to screw up Fixed Overheads. As in:

material usage variance:-

(actual quantity -standard quantity) x Standard price

then inserting the workings and giving the answer.

gingervicki

i have learned this too if it helps


(P)rice variances are based on
(A)ctual costs
(U)sage variances are based on
(S)tandard prices

welshboy

I think these exams are just a case or practice practice practice the more that you do sinks in so just keep practicing guys! and Good luck:thumbup:

mark130273

what gets me is just those last 3 !

fixed cap var
fixed vol var
fixed eff var ?

just wish i had them 3 nailed and think the rest is already there !

PAMDILL

mark130273 wrote: »

what gets me is just those last 3 !

fixed cap var
fixed vol var
fixed eff var ?

just wish i had them 3 nailed and think the rest is already there !

Join the club, have you looked at the post Sandy Hood put up for me when he explains them?

welshboy

I am baffled by last years variances they just seem a lot longer than previous exams??

Is it just me as these are driving me insane!
:thumbdown:

CurlyKat

Pev & pcr

Oh what a nightmare trying to do both of these exams, I think I have mastered one and then I forget the other.

It driving me crazy:confused1:

Hows everyone else doing!!!!!!!!!!

George Tse

Yea I'm in same boat as most of you guys except i'm only stuck on the written parts of the questions.

For the fixed overhead variance I was tough this way

Fixed overhead expenditure

Budgeted overheads - Actual overheads

Fixed overhead volume variance

Standard hours
less budgeted hours
=volume variance x OAR

I remember this by - Silly Bloody Variance

Hence the S in silly = Standard hours, B in Bloody = Budgeted hours and V in Variance = Volume

Fixed overhead Capacity variance

Actual hours
less Budgeted hours
=Capacity variance x OAR

I remember this by ABC A for Actual Hours B for Budgeted hours and C for capacity varience

Fixed Overhead Efficiency Variance

Standard hours
less actual hours
=Efficiency Variance x OAR

I remember this by Stamped Address Envelope

Hence S in stamped = Standard hours A in Address = Actual hours and E in Envelope = Efficiency Varience

I hope this helps some of you

Regards

Gentle Jesus