The ECR Exam 30/11/2009
Comments
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i think i worked out the normal loss was £45, but wouldn't figure out the cost per unit of the total output because of the abnormal gain. i couldn't get the thing to balance0
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catheriner3482 wrote: »oh, i hope it was an error, i wouldn't figure out the cost per unit when there was an abnormal gain, it just wouldn't balance. but i'm sure we did one in class that had no opening balacne no closeing balance and had an abnormal gain.
I don't know for defo with this one, but I can't see how you would end up with 515 when you only began with 500 for the process. I can understand that the 5% normal loss could decrease which could give you an abnormal gain, but it would still be within what you started off with in the first place and would then blance at the end.0 -
Section 2 harder than expected
Like others above, I found Section 2 much harder than expected. It's (a bit perverse but) very therapeutic to see that others also had trouble!
I know they always try to sneak new things in every year but - to the best of my memory - a P&L for Marginal and Absorption has never before come in a past paper, so I didnt revise it properly. I made a total hash of it and will have to hope everyone else also struggled!
Not only that but I seem to recall my Kaplan tutor saying expressly that it won't come up. I will have words with her.
I also was unsure of the Process costing question - I recognised there was an abnormal gain, but as it likewise has never before come up, I didnt quite know what to do with it.0 -
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spursfan323 wrote: »Like others above, I found Section 2 much harder than expected. It's (a bit perverse but) very therapeutic to see that others also had trouble!
I know they always try to sneak new things in every year but - to the best of my memory - a P&L for Marginal and Absorption has never before come in a past paper, so I didnt revise it properly. I made a total hash of it and will have to hope everyone else also struggled!
Not only that but I seem to recall my Kaplan tutor saying expressly that it won't come up. I will have words with her.
I also was unsure of the Process costing question - I recognised there was an abnormal gain, but as it likewise has never before come up, I didnt quite know what to do with it.
P&L's are unit 5! I've got that on Weds which is the only reason I knew what to do with it (sort of).
Think its a bit unfair that your tutor told you that it wouldn't come up too. Its touched upon in the text book that I have (not Kaplan btw) but doesn't go into mass detail, but if its there it can be tested.
I don't think this examiner likes us
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I don't know for defo with this one, but I can't see how you would end up with 515 when you only began with 500 for the process. I can understand that the 5% normal loss could decrease which could give you an abnormal gain, but it would still be within what you started off with in the first place and would then blance at the end.
you can have a gain, it's called an abnormal gain and it goes on the same side of the account as the input of 500, i think the total was 540 due to 515 output and the 25 normal loss.0 -
my cost per unit is £30.0
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I got:
Normal loss (Scrap) 25kg x 1.68 = £42
Completed ouput: also got £30 per kg (£14,250 / 475 )
Abnormal gain: having not revised it properly didnt know what to do with it so just dumped it on the right (yeah i know) with nothing in the £ column.
Hopefully got a few marks for effort though.0 -
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the last quesiton, net present cost, do we need to minus the disposal or plus, i plus the disposal instead minus!0
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I think the answer i got was:
Direct costs - 500 kg - 14292
Abnomal gain - 40 kg x £30 - £1200
TOTAL
540kg
£15492
Normal loss - 25 kg x £1.68 - £42
Output - 515 kg x £30 - £15450
TOTAL
540 kg
£15492
Stupid question0 -
abnormal gain 40kg £30 £12000
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hi i found section 2 a bit difficult
The P&L i hope i got it right ...never done something like that before in this area but i just hope my common sense helped me here... i got better profit with the FAC than the MC but who knows
also the process one jeeezzz i thought well 500 goes in and 515 comes out....should i put my tenner in that process i might get a £15 back!!!! lol my cost per kg though was 28.50
(I did all costs - the normal loss) divided by the 500 units, when trying to balance out the control account it drove me nuts....
also in the one about the vans...did anyone ended up with the same figure? so any van could be purchased?
i hope i have passed, i have unit 30 tomorrow and unit 5 on wednesday0 -
spursfan323 wrote: »I got:
Normal loss (Scrap) 25kg x 1.68 = £42
Completed ouput: also got £30 per kg (£14,250 / 475 )
Abnormal gain: having not revised it properly didnt know what to do with it so just dumped it on the right (yeah i know) with nothing in the £ column.
Hopefully got a few marks for effort though.
i think that's pretty much what i did, except i dumpted the abnormal gain on the left. i'm sure we'll get some marks for getting most of it right0 -
i've got that answer as well.0
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catheriner3482 wrote: »you can have a gain, it's called an abnormal gain and it goes on the same side of the account as the input of 500, i think the total was 540 due to 515 output and the 25 normal loss.
But you can't have an abnormal gain over what was originally put through the process. If you start with 500 with no opening or closing balance you can't magically gain another 15. Its not possible.0 -
hi i found section 2 a bit difficult
The P&L i hope i got it right ...never done something like that before in this area but i just hope my common sense helped me here... i got better profit with the FAC than the MC but who knows
also the process one jeeezzz i thought well 500 goes in and 515 comes out....should i put my tenner in that process i might get a £15 back!!!! lol my cost per kg though was 28.50
(I did all costs - the normal loss) divided by the 500 units, when trying to balance out the control account it drove me nuts....
also in the one about the vans...did anyone ended up with the same figure? so any van could be purchased?
i hope i have passed, i have unit 30 tomorrow and unit 5 on wednesday
I got 2 different answers with the vans! and opted for the first van! mush more my style
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But you can't have an abnormal gain over what was originally put through the process. If you start with 500 with no opening or closing balance you can't magically gain another 15. Its not possible.
you can, it's called an ABNORMAL GAIN. look in osborne books. but don't worry i got it wrong too, i put £30.19 and not £30 as the cost per unit.0 -
I think its because the expected output was 475kg so the normal loss expected was 25kg, however 515kg was tha actual output so 515 - 475 is the 40 kd unexpected gain. i.e. abnormal gain0
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catheriner3482 wrote: »i think i went for van 1 too, it had a higher NPV i think. can't remember now.
me too.0 -
catheriner3482 wrote: »you can, it's called an ABNORMAL GAIN. look in osborne books. but don't worry i got it wrong too, i put £30.19 and not £30 as the cost per unit.
Not being funny mate, but I know what an abnormal gain is thanks. Its physically impossible to get more out than you put in which is why my totor is ringing AAT tmro to find out.
As for getting it wrong, I think you are making the wrong assumption because I know how to work out the cost per kg based on the exoected output.
Please don't talk to me anymore, and I would recommend buying a new book!0 -
For the last question of section 2, was it just me or was there a row missing for the disposal amount in the second answer table? This could have been an error. Maybe. Clutching at straws!0
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but did you minus or plus the disposal?0
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What did you all put for the profit maximisation/6000kg limiting factor question?0
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