Sandy's ECR Exam Answers

jewels.p

I have today received the answers of Sandy Hood in the post if anyone wants to know the answer to a specific question. He will be able to send all the answers shortly when they have been typed up. I can't send them all to anyone as they are hand written and I dont have them on the Computer but I can tell you what he has written.

NO BUSINESS CASE

Dont want to know Jewels might ruin my xmas!! ha ha

How do they look for you any good??

jewels.p

NO BUSINESS CASE wrote: »

Dont want to know Jewels might ruin my xmas!! ha ha

How do they look for you any good??

To be honest I was that stressed out in the exam I cant remember what I put for half of it. I do know that the P & L I did was not right but that was because I didnt do it at all!

I think the only one I did right was the Net Present Cost one!

Marga

not for me thanks.... i want to be able to focus in the units i am at the moment...if i fail in feb then i will then want them

miskysbabe

Hi Jewels, could you tell me the amounts you have for the Net Present Cost question, just so I can be depressed even further.
Thanks
x

jewels.p

miskysbabe wrote: »

Hi Jewels, could you tell me the amounts you have for the Net Present Cost question, just so I can be depressed even further.
Thanks
x

Van P
Year 0 Year 1 Year 2 Year 3
Net Cashflows (600) (275) (290) (165)Disp added
Discounted (600,000) (237,078) (215,528) (105716)
Net Present Cost (1,158,322)

Van R
Year 0 Year 1 Year 2 Year 3
Net Cashflows (750) (345) (365) (220)Disp added
Discounted (750) (297,425) (271,268) (140,954)
Net Present Cost (1,459,647)

Van Type P recommended as it has the lowest N.P Cost

NO BUSINESS CASE

YEAH GOT 1 RIGHT!!!....11 tasks in all wasnt it for both sections??...so I reckon the pass rate should be 8%ish which means I pass. That sounds fair to me?!?!?!?!?!?!?!? ha ha ha

jewels.p

NO BUSINESS CASE wrote: »

YEAH GOT 1 RIGHT!!!....11 tasks in all wasnt it for both sections??...so I reckon the pass rate should be 8%ish which means I pass. That sounds fair to me?!?!?!?!?!?!?!? ha ha ha

I'm with you on this one! Ha ha ha ha

Elsie

ECR Exam available online now

I would love the answers to questions 2.1 & 2.2 if you get a moment, especially as I totally messed up these too in the exam. I couldn't work out, among other things, how to value the opening stock.

BTW the exam questions are available on the website now, if any of you can bear to look! I just have and feel just as sick as when I sat the exam!!!!!!

Thanks everso for doing this Jewels.

rehana

jewels.p wrote: »

I have today received the answers of Sandy Hood in the post if anyone wants to know the answer to a specific question. He will be able to send all the answers shortly when they have been typed up. I can't send them all to anyone as they are hand written and I dont have them on the Computer but I can tell you what he has written.

Would love to know the answer to the P & L question, absorption/marginal costing.
Thanks

jewels.p

Elsie wrote: »

I would love the answers to questions 2.1 & 2.2 if you get a moment, especially as I totally messed up these too in the exam. I couldn't work out, among other things, how to value the opening stock.

BTW the exam questions are available on the website now, if any of you can bear to look! I just have and feel just as sick as when I sat the exam!!!!!!

Thanks everso for doing this Jewels.

Task 2.1
(a) Price = £12 - Variable Costs £7 = £5 Contribution

(b) Price = £12 - Variable £7 - Fixed Prod Overhead £2
= £3 Profit per unit

Fixed Production overhead is calculated as £30,000/15000 Units

Task 2.2
Sales £144,000
Opening Stock £14000 (2000 Units x £7/Unit)
Variable Prod Costs £105,000
Closing Stock £35,000(5000 Units x £7/Unit)
Cost of sales (MC basis) £84,000
Contribution £60,000
Fixed Costs £30,000
Profit £30,000

jewels.p

Forgot to put 2.2 b so here it is:

Sales £144,000
Opening Stock £18000 (2000 Units x £9)
Prod Costs £135,000 (15000 x £9)
Closing Stock £45,000 (5000 x £9)
Cost of Sales £108,000 (12000 x £9)
Profit £36,000 (12000 x £3)

charlotteb

Hi Would really like to know the answers to the bonus scheme question 1.3, a b c. Not sure why it was so difficult for me, when usually pay is my strongest subject!!!

Thanks

Marga

jewels.p wrote: »

Forgot to put 2.2 b so here it is:

Sales £144,000
Opening Stock £18000 (2000 Units x £9)
Prod Costs £135,000 (15000 x £9)
Closing Stock £45,000 (5000 x £9)
Cost of Sales £108,000 (12000 x £9)
Profit £36,000 (12000 x £3)

do you think that even the figures used are incorrect , the notion of calculating it and were to put it , ie how to do a P&L will give us marks?

jewels.p

charlotteb wrote: »

Hi Would really like to know the answers to the bonus scheme question 1.3, a b c. Not sure why it was so difficult for me, when usually pay is my strongest subject!!!

Thanks

(a)
Actual Production - 5,400,000
Less Stand Prod - 4,000,000
Excess - 1,400,000
Bonus % - 8.75%
Group Bonus/hr - £0.875
Total - £4,375

(b)

44 @ £9.60 = £422.40
44 @ £0.875 = £38.50
TOTAL = £460.90

(c)
Work done had been fairly distributed.
All the team have contributed in a similar way to the overall success

jewels.p

I think that's all the questions everyone had trouble with. Sandy's answers will be available shortly once they have been typed up. Hope what I have typed on here for everyone will help in the meantime.

jewels.p

Marga wrote: »

do you think that even the figures used are incorrect , the notion of calculating it and were to put it , ie how to do a P&L will give us marks?

You will probably get some marks if you have attempted it and put the figures in the right places. Sandy actually added two colums to the left with Units and price per unit as he thought those would have helped. I have lost a lot of marks on this question as if I remember correctly I only put in the Sales figure. Couldnt do this question at all my mind went blank!

Marga

awwww yeah i did write how i got my gigures ie the 12000 * £5 or £7 or whatever it was so i am hoping for some marks on that

Marga

jewels.p wrote: »

(a)
Actual Production - 5,400,000
Less Stand Prod - 4,000,000
Excess - 1,400,000
Bonus % - 8.75%
Group Bonus/hr - £0.875
Total - £4,375

(b)

44 @ £9.60 = £422.40
44 @ £0.875 = £38.50
TOTAL = £460.90

(c)
Work done had been fairly distributed.
All the team have contributed in a similar way to the overall success

i did this correctly but somehow i calculated 44@£0.875 = £3,850!!!!

LOL

NO BUSINESS CASE

I was very generous with my group bonus (cant remember exact figures but was more than the answer that is for usre!) so that must make me a very generous employer/accounts person!!! ha ha

jewels.p

NO BUSINESS CASE wrote: »

I was very generous with my group bonus (cant remember exact figures but was more than the answer that is for usre!) so that must make me a very generous employer/accounts person!!! ha ha

Got any vacancies then?

kellylpool

On the NPC question I only used 3 figure answers, because there are £000 on the top of table. But note sandy has given 6 figure answers on the discounted cashflows. Will my answers still be correct, on the discounted cashflows I got

VAN TYPE P (600) (237) (216) (106) NPC (1,159)
VAN TYPE R (750) (297) (271) (141) NPC (1,459)

Also on question 1.5b Identify an alternative basic that cpl could to absorb (recover) overheads? Sandy has put 'direct labour hours' but I don't understand how and why. Can anyone shed any light? I recall my answer been 'full absorbtion costing'

Thoughts please

Kelly

jewels.p

kellylpool wrote: »

On the NPC question I only used 3 figure answers, because there are £000 on the top of table. But note sandy has given 6 figure answers on the discounted cashflows. Will my answers still be correct, on the discounted cashflows I got

VAN TYPE P (600) (237) (216) (106) NPC (1,159)
VAN TYPE R (750) (297) (271) (141) NPC (1,459)

Also on question 1.5b Identify an alternative basic that cpl could to absorb (recover) overheads? Sandy has put 'direct labour hours' but I don't understand how and why. Can anyone shed any light? I recall my answer been 'full absorbtion costing'

Thoughts please

Kelly

Your NPC figures are correct but I cant help you with the second part of your query as I didnt put anything there. I was going to put FAC too but ran out of time as I spent a long time trying to understand other parts of the paper.

Marga

kellylpool wrote: »

On the NPC question I only used 3 figure answers, because there are £000 on the top of table. But note sandy has given 6 figure answers on the discounted cashflows. Will my answers still be correct, on the discounted cashflows I got

VAN TYPE P (600) (237) (216) (106) NPC (1,159)
VAN TYPE R (750) (297) (271) (141) NPC (1,459)

Also on question 1.5b Identify an alternative basic that cpl could to absorb (recover) overheads? Sandy has put 'direct labour hours' but I don't understand how and why. Can anyone shed any light? I recall my answer been 'full absorbtion costing'

Thoughts please

Kelly

there are too ways to absorb overheads....based on the people who works (direct labour hours) or how the machine works (direct machine hours)


hope this helps

marga

tomdaniels

Cheers for the answers! I don't suppose you have the answers to 2.2?

Thanks,
Tom

SandyHood

Tom
The whole of my answer to the paper is available if you email me.
To receive a copy, the subject line of the email must be exactly:
[size=+1]Dec 09 ECR Sandy[/size]
anything else is unlikely to work as it is set up within my out of office rules

I will be asking for donations this year for Robbie Hayward.
This young man has Wooster Drought Syndrome, one of the Cerebral Palsies. There is a specialist school that is helping him and is fighting to stay open.

I am hoping that between all the students requesting answers in December we can raise £500 to help Robbie.

http://www.justgiving.com/Lee-Hayward

Here is a link to a video, Robbie features towards the end
http://collaboration.becta.org.uk/docs/DOC-1542;jsessionid=F616027F7D0E210D4519F74BAC7E0A6A