PEV - how did you all find it....?
Comments
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That makes me feel happier. Im not saying we should or shouldn't have put the running costs of the lease option in, I didn't but someone else did and now I'm doubting myself, u know how it is!
At least if lots of us did the same that is a good thing!!!0 -
What did every1 get for the standard cost card for 10000units?????? i got some messed up figure like £27700
and i messd up da 2nd discount factor question :@ hope pass mark is low this year!
I got £16,900.
I think 15k on fixed assets, 1 tonne of soap, not sure about anything else on it though0 -
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Wasnt there two material price/usage variances?
I cant remeber my figures for the plastic bottle price/usage variance though0 -
My reconciliation did not balance in section 1, I got that Standard was £30,030 but had a variance of £666 (just had to be the devil's number didn't it, lol.) Couldn't find where I went wrong though - any chance people can remember the variances for section 1??
I got:
Price 1400F
Usage 300A
Labour Rate 525F
Labour Efficiency 220A
O/H Expenditure 500A
O/H Volume 200F
What have I got wrong there??
There only seems to be one material variance there, there were 2 material price and 2 material usage variances.0 -
My reconciliation did not balance in section 1, I got that Standard was £30,030 but had a variance of £666 (just had to be the devil's number didn't it, lol.) Couldn't find where I went wrong though - any chance people can remember the variances for section 1??
I got:
Price 1400F
Usage 300A
Labour Rate 525F
Labour Efficiency 220A
O/H Expenditure 500A
O/H Volume 200F
What have I got wrong there??
The reconcilliation included 2 other Variances which were given to you in the paper already calculated possibly shampoo cost & usage. They were the other 2 u needed to balance. (Can't remember the figures tho)0 -
did you put the given variances in0
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wasnt the volume 700F0
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I got £16,900 too.
Soap...1 tonne @ £1200 = £1200
Plastic 200sq m @ £1.50 = £300
Labour 10 hrs @ £40 = £400
Fixed overheads = £15,000
TOTAL = £16,9000 -
My reconciliation did not balance in section 1, I got that Standard was £30,030 but had a variance of £666 (just had to be the devil's number didn't it, lol.) Couldn't find where I went wrong though - any chance people can remember the variances for section 1??
I got:
Price 1400F
Usage 300A
Labour Rate 525F
Labour Efficiency 220A
O/H Expenditure 500A
O/H Volume 200F
What have I got wrong there??
Hi, I got the same variances as you other than the overhead volume, I got £700F
£7,000 / 10,000 units = £0.70/unit x 11,000 units £7,700 less budgeted (£7,000) gave the £700F variance0 -
I did wonder about the running costs, was tempted to put a comment on paper about assuming lease was full maintaining lease.
Got reconciliation to balance and £2.04 million profit increase. and 80% increase.
The bit that through me was the other two considerations on NPC, I put whether demand stayed the same, if not could the machine be used for other products if bought or could the leased one be sent back. Other consideration was if lease was fixed cost then if inflation rocketed the running costs of bought machine might wipe out the savings over the lease.
What two other considerations did everyone else put?0 -
Mathew_Hill wrote: »I got £16,900 too.
Soap...1 tonne @ £1200 = £1200
Plastic 200sq m @ £1.50 = £300
Labour 10 hrs @ £40 = £400
Fixed overheads = £15,000
TOTAL = £16,900
i got all right, otherthan soap i put 12k instead ARGH0 -
You have missed the two variances they gave you in the paper0
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Hi, I got the same variances as you other than the overhead volume, I got £700F
£7,000 / 10,000 units = £0.70/unit x 11,000 units £7,700 less budgeted (£7,000) gave the £700F variance
Yea I think I totally messed that one up!! But got the majority of the rest correct, I hope I pass, dont wana re-sit it again!!0 -
Two considerations..
I put how would we finance the machine?
& would it still be useful in 5 years time/would we still be making the same product (although im unsure if this is right)0 -
I did wonder about the running costs, was tempted to put a comment on paper about assuming lease was full maintaining lease.
Got reconciliation to balance and £2.04 million profit increase. and 80% increase.
The bit that through me was the other two considerations on NPC, I put whether demand stayed the same, if not could the machine be used for other products if bought or could the leased one be sent back. Other consideration was if lease was fixed cost then if inflation rocketed the running costs of bought machine might wipe out the savings over the lease.
What two other considerations did everyone else put?
I put one as cashflow, with the purchase option being a big costs, and whether the company can afford it. Got a bit stuck then so waffled about depreciation and its affect on profit vs lease cost.0 -
For the indexes I used the unadjusted figures, but i did the right workings would I still get marks??0
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Mathew_Hill wrote: »I got £16,900 too.
Soap...1 tonne @ £1200 = £1200
Plastic 200sq m @ £1.50 = £300
Labour 10 hrs @ £40 = £400
Fixed overheads = £15,000
TOTAL = £16,900
Why fixed costs are £15,000?0 -
for the 2 considerations i put that
if rented then all breakdowns, updates etc would be covered by the contract
and
once the 5 years were up, if purchased the monies made on the sale of the machinery could go back into the business to purchase further machinery???
not sure of those answers now though
Tracy0 -
Because the overheads were £150,000 based on 100,000 units but we only made 10,0000
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Wasnt it £150000 fixed costs for 100,000 units, so therefore 10,000 units = £15,0000
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it was 150,000 for 100,000 soap, but we only need to make 10,000 so take a nought out0
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My considerations were
if operating lease it anything that went wrong would be settled by the lessor,
and also that we need to consider the tax implications of purchase ie expenses to P & L or capital allowances etc.0 -
i messed up by putting soap as £12000 instead of £12000
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Oh I remember that now!! I done most of thye cost card right, but I did 1000kg x £1200!! Which gave me the figure of £1200000 and I added that to the rest! Which gave me the mad total!! How silly is that!!!!!
Looks like I will be re-sitting :blushing:0 -
i think i got the return on net asset, and fixed asset turnover wrong, cos i only remmebr its operating profit/net asset and there wasnt operating profit, and i did fixed asset/turnover STUP[ID ME0
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And i completely messed up task 2.30
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diamondavid wrote: »i think i got the return on net asset, and fixed asset turnover wrong, cos i only remmebr its operating profit/net asset and there wasnt operating profit, and i did fixed asset/turnover STUP[ID ME
they are the 2 i am worried about also. as soon as i was in the exam room i went through the paper and marked the equations i would need, then when it came to it i was stumped.
Tracy0 -
Well I did asset turnover as turnover/net assets x100% (I didn;t realise it was FIXED asset turnover & it was 'times' not %). Neva mind0
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