ECR Today
Comments
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the bonus question was very tricky, not sure if i got it right, i sure did play around with it for quite some time lol0
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thankgod, you need to put down your AAT number not your name you bum lol x
Hey Missy I think i wish i hadnt put even my aat number...
Atleast it would have showed in result absence instead of B****y fail.
Just could not believe How hard paper was altogether..
As soon as i looked paper i was gonna complain that i'm setting in ECR exam not anything else.
LIFO, FIFO, AVCO took me half an hour to worket it out.
all past paper section 1 use to take me half an hour only.
and bye the and of three hour i was still trying to figure out that bonus question.
I was gonna ask am i allow to take it home as i've not even looked section 2 yet.
I think reading all this comment feel much better now.
So dispointed...tho.0 -
anyone remember answers for the p and l ones?0
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monkeyrage wrote: »i think i got £4375 for the total group bonus and then i added the bonus onto the next question too. god, looking at everybody's answers i think i did poo
we have the same answer 4375 and then add a bonus per hour on the nxt question on top of the basic pay. Hope we are both correct0 -
i think i got the same answer to the bonus question too
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the second question about the bonus, he had worked 44 hours and i used this number multiplied by my bonus rate per hour figure?
the P&L i had no idea on. i just tried to write down 'logical' (more like hopeful) answers.
i think mine came to £48,000 for FAC and £34,000 for MC. (Hopeful like i said!)0 -
Got P and L for FAC method wrong because I have the cost per unit wrong lol !0
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for P&L
I got
MC: £30,000
FAC: £36,0000 -
I also got 0.0875. I was worried it was wrong but it might not be then if loads of people did.
I found section 1 ok I think but 2 completely threw me. I could not remember how to do my profit and loss account from the FRA unit as I did this unit last year and it was not covered by our tutors in ECR and I was also struggling on the maginal costing and contribution bits and made most of it up. So I think it will sadly be another resit for me.
How did others find it?0 -
aww kam, dont worry i think everyone felt the same altho i dont think the boys would cry but i'm sure they werent happy with the exam paper either... i did the first few questions in section 1 and was quite confident when it came towards the end of section 1 i totally started to panic, section 2 was not good at all, altho i attempted all the question, all we can do is forget about it and move on, its done now and we cant do anything about it.Hey Missy I think i wish i hadnt put even my aat number...
Atleast it would have showed in result absence instead of B****y fail.
Just could not believe How hard paper was altogether..
As soon as i looked paper i was gonna complain that i'm setting in ECR exam not anything else.
LIFO, FIFO, AVCO took me half an hour to worket it out.
all past paper section 1 use to take me half an hour only.
and bye the and of three hour i was still trying to figure out that bonus question.
I was gonna ask am i allow to take it home as i've not even looked section 2 yet.
I think reading all this comment feel much better now.
So dispointed...tho.
cheer up x0 -
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Hi Keith,
No it did not state how many workers were in the group so it kind of threw me a bit and it did not state how much overtime they did or theor standard working week so I just used the hourly rate and multiplied it by 44 hours that the employee worked. This seemed too easy but I did not know what else to do as there was no other information or tips on it.0 -
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monkeyrage wrote: »the second question about the bonus, he had worked 44 hours and i used this number multiplied by my bonus rate per hour figure?
the P&L i had no idea on. i just tried to write down 'logical' (more like hopeful) answers.
i think mine came to £48,000 for FAC and £34,000 for MC. (Hopeful like i said!)
P and L on my MC method is £30,000
Contribution is £5.00 x 12000 units = 60,000
Less Fixed costs (30,000)
Profit £30,000
Calculation for contribution;
SALES (12000 x 12) 144,000
Opening cost 2000 x (4+3) = 14000
+units produced 15000 x (4+3) = 105,000
-closing stock 5,000 x (4+3) = ( 35000)
COS ( 84,000 )
_____________
Contribution 60,000
but still I am not entirely confident if its correct.. I am gutted about my FAC per unit as well.. I need to revise FRA now but can not concentrate. Why does it take almost 3 months for the result!0 -
surely the opening stock was made from the direct costs and variable costs total £7 per unit MC and £9 per unit FAC..0
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Opening stock : 2000 units X £2
= £4,000
where was this quoted in the P&L tho? under fixed production overheads?...I understand there should be a direct correlation between the profit figures of MC and FAC being the closing stock multiplied by overhead absorption, 5000 * 2, giving the difference of 10000.
hence profit figures of 26000 and 36000.
Oh poooooo I think I officially lost the plot with this one 0 -
I had no idea for some questions in Section 2, but I made an effort to get something in the answer boxes, JUST IN CASE something i wrote was correct. We have all made an effort so lets all hope AAT recognise this!!0
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what i mean is the opening stock must have been made? it costs £7 and £9 to make it.0
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I need to move on guys, can't take my exam paper back and change the answer! LOL. I need to revise FRA for wednesday! goodluck to all who has exams this week!
Thanks guys for sharing your thoughts, helps with the stress lol0 -
does anyone know when we get are results in feb? just so i know when to expect a letter saying fail in big bold letters!0
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I`ve got npc for the first one £1,159 (600+559) & for the 2nd one £1,459 (750+709) both possitive figures. has any 1 got the same figures.0
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Yes thats what I got too so first one is better? 0
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Guys, was thinking, out of my stupidity, I might wrote my workings on a blank paper that is not intented for workings errrr...DOuble fail
Just realised it now looking at the past papers!!0 -
keithy1978 wrote: »Did ECR in Crawley today. Went ok but a couple of questions threw me.
What the heck was that question on bonuses? I worked out that 5,400,000 units were produced against the expected of 4,000,000.
The bonus was 25% x 1,400,000
4,000,000
so I got 25% x 0.35 = 0.0875
Anyone get anything different?
Also I managed to get the same NPV on both Vans both of which were negative.
hey i got the same as you on both the bonuses and the van ones i got a NPC of 41 on both negative0 -
NPC should both have been negative figures (as it was costs alone you were measuring) and the least negative was the most cost effective and hence the van to choose which was the first van.
The only reason I knew this was sitting my final past paper on Sunday night and it had an NPC and not an NPV and the answer was both negative with least negative being the most cost effective option!!
Sneaky question and had i not seen the past paper would have been completely stumped!!!0 -
Hi, i get that same as in bonus question. it should be 8.75% but in the last column i wasn't sure what is the bonus. It has to be worked out from 1400000 units and 5000 hours and then multiply by £10 per hour. However the NPV i did totally wrong. I was confused because there was no sales. The question was also on net present cost based not on net present value. However, You will get marks for the calculations you have did.0
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We had 2000 opening stock and 5000 closing stock so the profit was different by 6000 I think??I got this too...but shouldn't MC's profit have been 26000 (36000 less 5000 closing stock units multiplied by £2 overhead per unit) that extra 4000 had me baffled for and 1/2 hour before I just gave up
( 5000-2000=3000x2=6000)
Hope that makes sense0 -
keithy1978 wrote: »Did ECR in Crawley today. Went ok but a couple of questions threw me.
What the heck was that question on bonuses? I worked out that 5,400,000 units were produced against the expected of 4,000,000.
The bonus was 25% x 1,400,000
4,000,000
so I got 25% x 0.35 = 0.0875
Anyone get anything different?
Also I managed to get the same NPV on both Vans both of which were negative.
Is this not 0.0875%? then times by group bonus rate £10 to give £.875 an hour?
This would give a total bonus of £4375. Or an individual bonus of £38.50 on 44 hours. Any different and I am screwed!!
Never even encountered NPC in my text book or previous exams so just went with NPV - do they not have to give you credit for doing the calculatikon right even if you choose the wrong one?0 -
Net present cost question should of ended up as positive numbers not a negative! if your numbers were negative then you have got it wrong! Its a Net Present COST and not Net Present Value! The figure means how much it will cost the business. So a positive 1000 figure will COST the business £1000.
Ie the best van to purchase would be the smallest number (which both were positive)0
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