PEV - June 2010

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  • Emilie
    Emilie Registered Posts: 37 Regular contributor ⭐
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    Pev 2010

    I got the same variances too. I got £46.25 2. kept having to check the fixed capacity one.
  • bagpuss3008
    bagpuss3008 Registered Posts: 32 Regular contributor ⭐
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    HayleyM wrote: »
    I think I got £46.25 (if i remember rightly) for the FOAR - Anyone else get this?

    thank god I am not the only one then! thought this was really high though! I did a comparison on actuals and it was something ike £2!
    hopefully didnt do too bad though.

    did anyone else get £240k for fixed costs on the last question? It suddenly dawned on me just before I was ready to leave!
  • safrica
    safrica Registered Posts: 106 Dedicated contributor 🦉
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    HayleyM wrote: »
    I think I got £46.25 (if i remember rightly) for the FOAR - Anyone else get this?

    same here! BUT I got a Favourable variance of £22200 on the capacity variance, not an adverse one....?
  • tigger37
    tigger37 Registered Posts: 200 Dedicated contributor 🦉
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    bagpuss3008 wrote: »
    thank god I am not the only one then! thought this was really high though! I did a comparison on actuals and it was something ike £2!
    hopefully didnt do too bad though.

    did anyone else get £240k for fixed costs on the last question? It suddenly dawned on me just before I was ready to leave!
    I completely buggered up that bit. I got down the definition of target costing, just not the actual calculation right. Hopefully that won't infringe too much on my score.
  • safrica
    safrica Registered Posts: 106 Dedicated contributor 🦉
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    On section 2, got an additional profit of £31000....??
    target fixed cost £2.50
  • oh confused one
    oh confused one Registered Posts: 128 Dedicated contributor 🦉
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    Anyway what ever will be will be - none of us can change what we have put so its just a waiting game now and back to the books for BTC tomorrow
  • llanboi
    llanboi Registered Posts: 14 New contributor 🐸
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    Flying Scarlet wrote: »
    and??

    Yes I dont know what to think yet!
  • lma
    lma Registered Posts: 8 New contributor 🐸
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    I also got £22,200 favourable for the FOH Capacity variance as the capacity (ie labour hours) was greater than budgeted so this makes it favourable.
    I agree with all the other answers as well!
  • Flying Scarlet
    Flying Scarlet Registered Posts: 42 Regular contributor ⭐
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    llanboi wrote: »
    Yes I dont know what to think yet!

    Lol me too, not sure I can remember what I wrote for the rest of the exam bar the variances.
  • tigger37
    tigger37 Registered Posts: 200 Dedicated contributor 🦉
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    safrica wrote: »
    On section 2, got an additional profit of £31000....??
    target fixed cost £2.50
    I was nervous on that question as well. I think I got some high answer like 93,560 total. I did a whole run down from turnover to net profit as I believe this was how they did it on another exam. But I am probably wrong here as well...lol
  • llanboi
    llanboi Registered Posts: 14 New contributor 🐸
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    HayleyM wrote: »
    I think I got £46.25 (if i remember rightly) for the FOAR - Anyone else get this?

    I got this!
  • columbia
    columbia Registered Posts: 580 Epic contributor 🐘
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    How do you all remember???

    Not gonna look anymore as it just panics me!!
  • lma
    lma Registered Posts: 8 New contributor 🐸
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    I also got £2.50 for the target cost per unit so x 170,000 got £425,000
    In the first question for section 2 I got £67,000 revised net profit so additional profit was approx £34000...did anyone else get around this???
  • HayleyM
    HayleyM Registered Posts: 63 Regular contributor ⭐
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    safrica wrote: »
    same here! BUT I got a Favourable variance of £22200 on the capacity variance, not an adverse one....?

    I put favourable too, but when i tried to do reconcile it (this wasn't a question) it didn't work. So I think it may have been an adverse one.... Can't lose too many marks for that though can I?
  • Emilie
    Emilie Registered Posts: 37 Regular contributor ⭐
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    I also got 425,000. i recall 67000 been there as revised net profit 2.
  • HayleyM
    HayleyM Registered Posts: 63 Regular contributor ⭐
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    safrica wrote: »
    On section 2, got an additional profit of £31000....??
    target fixed cost £2.50

    I got this too!
  • tigger37
    tigger37 Registered Posts: 200 Dedicated contributor 🦉
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    HayleyM wrote: »
    I put favourable too, but when i tried to do reconcile it (this wasn't a question) it didn't work. So I think it may have been an adverse one.... Can't lose too many marks for that though can I?
    I did the same (performed a reconciliation to check).
  • HayleyM
    HayleyM Registered Posts: 63 Regular contributor ⭐
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    Did the question in section 2 ask for the revised net profit or the additional net profit? I think I just left it as the additional profit of £31,000. If it asked for the revised then I have definately lost marks there..... :(
  • tigger37
    tigger37 Registered Posts: 200 Dedicated contributor 🦉
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    HayleyM wrote: »
    I got this too!
    Looks like I got that one wrong too..............I thought it wanted you to base it all on the sales of 394,000 sales or something like that and when I redid the material costs and added the extra marketing, I got 93,560 total net profit. I don't remember what the original net profit was now. Anyone????
  • lma
    lma Registered Posts: 8 New contributor 🐸
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    £32,900ish I think
  • lma
    lma Registered Posts: 8 New contributor 🐸
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    HayleyM no it didn't ask for a revised net profit, it did just ask for the additional. I just found it easier doing it that way!!!
  • Morris1871
    Morris1871 Registered Posts: 8 New contributor 🐸
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    The £22,200 was an adverse variance as actual hours worked were less than budgeted, meaning labour worked under capacity, which is a negative. I think.
  • llanboi
    llanboi Registered Posts: 14 New contributor 🐸
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    HayleyM wrote: »
    I got this too!

    I got that too!
  • HayleyM
    HayleyM Registered Posts: 63 Regular contributor ⭐
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    lma wrote: »
    HayleyM no it didn't ask for a revised net profit, it did just ask for the additional. I just found it easier doing it that way!!!

    Thank god for that!! :) I want to come away from the laptop as I am worrying myself.... but I want to stay!!
  • lma
    lma Registered Posts: 8 New contributor 🐸
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    Morris1871, actual hours were 1200 whereas budgeted was around 720 if I remember rightly so they worked over capacity. Thats why I put favourable anyway - I hope I didnt get actual and budgeted mixed up :S
  • NAJC
    NAJC Registered Posts: 44 Regular contributor ⭐
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    :)
    tigger37 wrote: »
    I was nervous on that question as well. I think I got some high answer like 93,560 total. I did a whole run down from turnover to net profit as I believe this was how they did it on another exam. But I am probably wrong here as well...lol


    I did the same as i done an exam paper last night and it said to do it like this. :)
  • Morris1871
    Morris1871 Registered Posts: 8 New contributor 🐸
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    lma wrote: »
    Morris1871, actual hours were 1200 whereas budgeted was around 720 if I remember rightly so they worked over capacity. Thats why I put favourable anyway - I hope I didnt get actual and budgeted mixed up :S

    Sorry, I got it mixed up. Already sutdying for BTC so it left my head. You're right, actual was over budget therefore it was favourable.
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    we shared the room with people sitting PEV and almost all that came out of there looked very happy
  • HayleyM
    HayleyM Registered Posts: 63 Regular contributor ⭐
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    A-Vic wrote: »
    we shared the room with people sitting PEV and almost all that came out of there looked very happy

    This means the pass rate will be higher..... :S
  • anniem
    anniem Registered Posts: 1,326 Beyond epic contributor 🧙‍♂️
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    A-Vic wrote: »
    we shared the room with people sitting PEV and almost all that came out of there looked very happy

    Our room was PErVs and MAC's too! But I didn't see the MACs come out, because I left before everybody else in the room. First out - yay, that was a first for me!
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire

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