8 pm..ECR..what I put

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safrica
safrica Registered Posts: 106 Dedicated contributor 🦉
in AAT Level 3 (Level 6 in Scotland)
Hi everybody !!

This was a long-winded exam :001_rolleyes:, lots of calculation but not many explanations of terms, which i don't mind.......:001_tt2:

This is what I got, can’t remember all of it…:

Stock, FIFO, stock balance end figure £4,864 or something similar….

Labour costs £4,130, giving a cost per can of £2.065 pence

My OAR for ingredients mixing was £62.95, giving an under-absorption of £22,000


Break-even sales £500,000

MOS % , got 75%...

Process costing-so glad I spent last week doing again & again T-accounts !!- got £190 for normal cost of production, had a normal loss of 12 tonnes valued at £240 (12 x £20) and abnormal loss of 28 tonnes valued at 28 x £190 = £5,320. Input costs were £73,960.

Project accepted because NPV positive, can’t remember the figure though…
Payback I got 2 years and 1 month…

rest i don't remember now...

What about you all ??

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  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    i got 2 years 1 month also

    I also got the same for abnormal loss and loss

    i forgot to add the 50 at the end so my figures will be out
  • Cyfarthfa
    Cyfarthfa Registered Posts: 62 Regular contributor ⭐
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    I'm sure I didn't get that figure for breakeven sales, did you work out how many units were needed to breakeven and then multiply by 80p??
  • kerrybibby77
    kerrybibby77 Registered Posts: 6 New contributor 🐸
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    ECR Jone

    My answer sould the same thankfully. I messed up on the process costing question though. See what some else has put has put my mind at ease.
  • kerrybibby77
    kerrybibby77 Registered Posts: 6 New contributor 🐸
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    ECR June

    Yes I multiplied the units by 80p to get sales rev. I got 64 % though for MOS :{
  • coolboy
    coolboy Registered Posts: 7 New contributor 🐸
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    Hi
    how did you know passing marks 75%
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    The final pass mark wont be determined until the papers are marked i was told to aim for 70%

    I think section 2 will kill me (is it me or did there seem to be a lot less questions to section 2 compaired to 1????
  • AK002
    AK002 Registered Posts: 2,492 Beyond epic contributor 🧙‍♂️
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    kerrybibby77 wrote: »
    Yes I multiplied the units by 80p to get sales rev. I got 64 % though for MOS :{

    I got 51.14% - probably wrong!
  • kerrybibby77
    kerrybibby77 Registered Posts: 6 New contributor 🐸
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    ECR June

    Can anyone remember what NPV they got?

    I think I got 5.97 which would have been £5,970. It was a positive figure anyway.
  • chris_b
    chris_b Registered Posts: 11 New contributor 🐸
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    kerrybibby77 wrote: »
    Can anyone remember what NPV they got?

    I think I got 5.97 which would have been £5,970. It was a positive figure anyway.

    i got 5.97 at first but i forgot to add on the 50,000 gained from the disposal which after i worked that out gave me a NPV of 39.72
  • safrica
    safrica Registered Posts: 106 Dedicated contributor 🦉
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    chris_b wrote: »
    i got 5.97 at first but i forgot to add on the 50,000 gained from the disposal which after i worked that out gave me a NPV of 39.72

    yep, got the same !
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    kerrybibby77 wrote: »
    Can anyone remember what NPV they got?

    I think I got 5.97 which would have been £5,970. It was a positive figure anyway.

    thats the answer i got but i forgot to add the 50 at the end
  • Vidya_r
    Vidya_r Registered, Tutor Posts: 21 New contributor 🐸
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    safrica wrote: »
    Hi everybody !!

    This was a long-winded exam :001_rolleyes:, lots of calculation but not many explanations of terms, which i don't mind.......:001_tt2:

    This is what I got, can’t remember all of it…:

    Stock, FIFO, stock balance end figure £4,864 or something similar….

    Labour costs £4,130, giving a cost per can of £2.065 pence

    My OAR for ingredients mixing was £62.95, giving an under-absorption of £22,000


    Break-even sales £500,000

    MOS % , got 75%...

    Process costing-so glad I spent last week doing again & again T-accounts !!- got £190 for normal cost of production, had a normal loss of 12 tonnes valued at £240 (12 x £20) and abnormal loss of 28 tonnes valued at 28 x £190 = £5,320. Input costs were £73,960.

    Project accepted because NPV positive, can’t remember the figure though…
    Payback I got 2 years and 1 month…

    rest i don't remember now...

    What about you all ??

    ALMOST THE SAME but I got MOS as 42.86%

    NPV in £000 as 39.72
    Pay back as 2yr 2 months.
  • Kecak
    Kecak Registered Posts: 50 Regular contributor ⭐
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    Vidya_r wrote: »
    ALMOST THE SAME but I got MOS as 42.86%

    NPV in £000 as 39.72
    Pay back as 2yr 2 months.

    Sounds very similar to what I got.
  • bambilicious
    bambilicious Registered Posts: 43 Regular contributor ⭐
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    I got very similar answers - I also got £42.86%. And if my calculations were correct then the BEP was £500k and MOS was £375k....but please correct me if i am wrong!
  • Vidya_r
    Vidya_r Registered, Tutor Posts: 21 New contributor 🐸
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    bambilicious wrote: »
    I got very similar answers - I also got £42.86%. And if my calculations were correct then the BEP was £500k and MOS was £375k....but please correct me if i am wrong!


    YUP thts right...thts precisely wht I got....:001_smile:

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