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David0097
Registered Posts: 24 New contributor 🐸
Did anyone else get along the same line as this?
1.1a 10,350,000
1.1b 10,450,000
1.1c 33,012,000
1.1e 220,000 hours needed so 17,600 hours overtime
1.2a sp = £1.35 so turnover is £13,972,500
1.2b  material cost 6,602,400
1.2c  Std wages = £2,428,800
 Overtime  £316,800
 total  £2745,600
1.2d  Overheads £2359,400
1.4 New overtime (35,537hrs) £639,666 is more than double the previous amount which is not possible as every employee would have to work over 70hrs extra each month. This additional labour can be outsourced (agency)
2.1a  £40
2.1b  £7
2.1c  45mins or 0.75hrs
2.1d  10p or £0.1
2.1 e £25,000
2.1f £4000 per step
2.2a total variance is £86,050F alothough every cost was an adverse apart from depreciation?
Anyone else get answers like this?
I mucked up my closing stock calculation for the table....
1.1a 10,350,000
1.1b 10,450,000
1.1c 33,012,000
1.1e 220,000 hours needed so 17,600 hours overtime
1.2a sp = £1.35 so turnover is £13,972,500
1.2b  material cost 6,602,400
1.2c  Std wages = £2,428,800
 Overtime  £316,800
 total  £2745,600
1.2d  Overheads £2359,400
1.4 New overtime (35,537hrs) £639,666 is more than double the previous amount which is not possible as every employee would have to work over 70hrs extra each month. This additional labour can be outsourced (agency)
2.1a  £40
2.1b  £7
2.1c  45mins or 0.75hrs
2.1d  10p or £0.1
2.1 e £25,000
2.1f £4000 per step
2.2a total variance is £86,050F alothough every cost was an adverse apart from depreciation?
Anyone else get answers like this?
I mucked up my closing stock calculation for the table....
0
Comments

they seem to ring a bell0

Look the same as mine. I mucked up my closing stock figure as well0

Did anyone else get along the same line as this?
1.1a 10,350,000
1.1b 10,450,000
1.1c 33,012,000
1.1e 220,000 hours needed so 17,600 hours overtime
1.2a sp = £1.35 so turnover is £13,972,500
1.2b  material cost 6,602,400
1.2c  Std wages = £2,428,800
 Overtime  £316,800
 total  £2745,600
1.2d  Overheads £2359,400
1.4 New overtime (35,537hrs) £639,666 is more than double the previous amount which is not possible as every employee would have to work over 70hrs extra each month. This additional labour can be outsourced (agency)
2.1a  £40
2.1b  £7
2.1c  45mins or 0.75hrs
2.1d  10p or £0.1
2.1 e £25,000
2.1f £4000 per step
2.2a total variance is £86,050F alothough every cost was an adverse apart from depreciation?
Anyone else get answers like this?
I mucked up my closing stock calculation for the table....
I completely agree with 2.1 and the majority of 2.1 (i dont remember everything i put on section 1, the tears glazed my eyes lol
But i didnt get that total variance i got £45000 and somethin, maybe £45450?? Adverse too. There was 2000 from dep'n and another 1000 from somewhere i think, dont remember where from though!! But obviously a lot of people will have different figures, thats where the own figure rule comes in handy!!0 
AH i got the same adverse expense variance. The total variance includes the favourable difference for turnover which was enough to bring the total variance into a positive figure!!!0

The question with the table was nasty. I really mucked up closing stock which made my answer wrong. Pretty sure got everything else right. Lot of data to take in from that exam. Took ages to work out to divide the sales by four to get a quarterly number. Pretty obvious now I think about it, then each individual total like production, wastage etc obviously agreed with the answers from the earlier question which was nice. Wastage and all that shold not have changed, the only thing that changed was hours worked and overtime needed for quarter 3 and 4. 4's overtime was only like 87 hours or something mind!
Sure we did fine0 
All the answers seem familiar apart from 2.2 where I had a big FAV variance on Turnover which essentially led to a total fav variance...0

There was a total favourable variance of 86k as I got a huge turnover variance too. This offset the negative expense variance. How different was your answer?0

I just didnt include the turnover in my total variance. Thats all! Wont lose many marks for that i dont think! Is it defo meant to be included though? I didnt think so thats why i didnt put it there.0

Well in previous papers it was included as you were asked for the reason why i.e rise in prices etc... as the explanation. Not going to lose much for not including it.0

PCR!!!!! I didn't like this from day one of starting the level 4, fail once in DEC 08. I thought this was actually easier than dec 08 and probably june 09. But section 1 task 1.2, 1.3, 1.4 were all confusing..... Section 2 was ok just couldn't do the step cost and i have actually used a rondom number to carry on with my caculation and i don't think that will fail me.
For sction 1: once i have finished task 1.1 and 1.2 i have decided to move on to section 2 and came back for 1.3 and 1.4. So when i was doing task 1.3 revised production i have realised that the wastage (5%) was on the production but not on material, i did go back to task 1.1 and 1.2 to change all my figures, likely i have finished section 2 quickly so i had a bit more time to spend on section 1.
But i can safely safe that i have the same figures for section 1 and 2. i have also mucked up my stocks and 1.2 e.0 
Did anyone else get along the same line as this?
1.1a 10,350,000
1.1b 10,450,000
1.1c 33,012,000
1.1e 220,000 hours needed so 17,600 hours overtime
1.2a sp = £1.35 so turnover is £13,972,500
1.2b  material cost 6,602,400
1.2c  Std wages = £2,428,800
 Overtime  £316,800
 total  £2745,600
1.2d  Overheads £2359,400
1.4 New overtime (35,537hrs) £639,666 is more than double the previous amount which is not possible as every employee would have to work over 70hrs extra each month. This additional labour can be outsourced (agency)
2.1a  £40
2.1b  £7
2.1c  45mins or 0.75hrs
2.1d  10p or £0.1
2.1 e £25,000
2.1f £4000 per step
2.2a total variance is £86,050F alothough every cost was an adverse apart from depreciation?
Anyone else get answers like this?
I mucked up my closing stock calculation for the table....0 
Did anyone else get along the same line as this?
1.1a 10,350,000
1.1b 10,450,000
1.1c 33,012,000
1.1e 220,000 hours needed so 17,600 hours overtime
1.2a sp = £1.35 so turnover is £13,972,500
1.2b  material cost 6,602,400
1.2c  Std wages = £2,428,800
 Overtime  £316,800
 total  £2745,600
1.2d  Overheads £2359,400
1.4 New overtime (35,537hrs) £639,666 is more than double the previous amount which is not possible as every employee would have to work over 70hrs extra each month. This additional labour can be outsourced (agency)
2.1a  £40
2.1b  £7
2.1c  45mins or 0.75hrs
2.1d  10p or £0.1
2.1 e £25,000
2.1f £4000 per step
2.2a total variance is £86,050F alothough every cost was an adverse apart from depreciation?
Anyone else get answers like this?
I mucked up my closing stock calculation for the table....
some of this looks vaguely familiar  but i really cannot remember much  i never can after exams0 

wong units on my answer
all the answers seem to agree to what i wrote, but i made blonde mistake of writting 0.75 mintures instead of hours or dividing by 60 to get answer in mintues, i did this for all the tasks that used the 0.75 answer and when i worked out the time from actual budget when was bonus scheme in place i did the same mistake, do you think i will get marked down too much on this??? i was so gutted when i realised after the exam what i had done, as i even thought about dividing by 60 in exam!0 
Pcr answers
David0097, I agree with all your answers except the variance on Task 2.2 which I make as £90,550 (F), that's after taking into account the Favourable variance of £136K on the turnover.
Regarding Task 1.2.e. I got £1.12 as my cost per saleable Kroll, this being : £11,704,000 (total production cost)/10,450,000 (saleable Krolls to be produced). Closing stock is 250,000 rolls valued at £1.12/roll, i.e. £280,000. Anyone want to agree? Or disagree?
Re Task 2.3. I thought that the increased labour rate (£12.50/hour instead of £12/hour  that's £616,250 actual labour cost/49,300 actual labour hours) didn't really benefit the company. It is 4% higher than the standard labour rate assumed for the budget, but it got the budgeted labour time per pack down from 45 minutes to 43.5 minutes (that's 49,300 actual hours/68,000 packs produced, which is 0.725 hours which = 43.5 minutes). This is a 3% reduction on the budgeted time of 45 minutes per pack. Paying 4% more to achieve a 3% reduction in time taken to produce a pack doesn't strike me as proportionate. Any views?0
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