ECR - June 2010

Good luck to all who are taking ECR at the moment!

Let us know how you got on.

NB. Don't forget posting rules - no exam details until after 8pm please for those in other time zones.
FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
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Comments

  • beavis182
    beavis182 Registered Posts: 130 ? ? ?
    soo how did everyone get on?? I didnt think it was too bad, just not enough studying on my part. I got stuck on Task 2.4 i think it was on Marginal costing.
  • lynn26
    lynn26 Registered Posts: 42 ? ? ?
    unit 6 2010

    think it was task 2 .2 break even marginal and marginal% that caught me out a bit dont think i got passed that part but the rest of the paper was ok ..........
  • Lena
    Lena Registered Posts: 15 Dedicated contributor ? ? ?
    Hmm, ECR was so-so for me...
    I got stuck on a couple of questions, then again, I probably did not study enough!
    Hope I 'll pass, tough. Will see in August...
  • jenny3549
    jenny3549 Registered Posts: 472
    Good I think, although it's hard to say as you can think you've done it right.... the only thing I find odd which made me doubt myself was on the limiting factors when my answers meant that all three factors ended up with the same ranking order. Could be being paranoid but wondered if I'd cocked something up there.

    Other than that was very grateful the wordy bits weren't as bad as they could have been. And was a bit disappointed no process costing as that was my star area!
  • beavis182
    beavis182 Registered Posts: 130 ? ? ?
    does anyone know wha the pass rate is??

    Also, how was task 2.2 worked out. My mind went blank when trying to figure out the Unit/Contribution... what answers can people remember they got??
  • lulu84
    lulu84 Registered Posts: 9 Regular contributor ⭐ ? ⭐
    I think i messed up on my limiting factors should it just have been the total contribution divided by sales, then total contribution divided by machine hours etc or should i have done it different
  • jenny3549
    jenny3549 Registered Posts: 472
    The first one I just had as the contribution per unit. Then divided this contribution by the machine hours per unit or the labour hours per unit. Can't really remember the amounts but I think one of them was 22.50 and 22.75 for two of them (think that was the last one).
  • lulu84
    lulu84 Registered Posts: 9 Regular contributor ⭐ ? ⭐
    oops ive got that one wrong then, i forgot to divide the unit contribution by the machine hours and just divided them by the total contribution arghh
  • Dipak Thanki
    Dipak Thanki Registered Posts: 135 ? ? ?
    When they ask you to find out contribution per machine hours or whatever; you have to remember:

    "per" or "/" means divide so you just exactly what the question tells you, for example: Machine Hours/units made -> Machine hours divide by units made.

    That's how I remembered it when I did it!
  • emma123
    emma123 Registered Posts: 108 ? ? ?
    how do they decide if we pass or fail? i know you have to show a good understanding of both sections but is there a percentage you have to get to pass?
  • Dipak Thanki
    Dipak Thanki Registered Posts: 135 ? ? ?
    emma123 wrote: »
    how do they decide if we pass or fail? i know you have to show a good understanding of both sections but is there a percentage you have to get to pass?

    I'm not sure but I think it is if you show an understanding, as they don't allocate how many marks per question are given. So I'm assuming if you get all the basics right, you've passed!:D
  • AuntieT
    AuntieT Registered Posts: 96 ? ? ?
    Hmmmmm,

    Got myself a bit confused a few times esp with the Break Even Point questions - didn't seem to be how I'd expected.

    But for the first exam I've sat in over 10 years....
  • babsa
    babsa Registered Posts: 118 ? ? ?
    I have done every past paper there was to do for the costing exam, I think each paper got worst. I could have done the calculations forever but there was so many explainy thing in there I don't think I've got a chance anyone no where the computer based resit are? When is the exam paper onlne to look at? Last year it was 8 day from sitting the exam.

    :-(
  • thompbj
    thompbj Registered Posts: 1 New contributor ?
    Ecr exam

    Did anyone have any problems with the last question - payback period. How long did you get, and what about the part in the report where it asks what if the company changed period to 3 years ???
  • jenny3549
    jenny3549 Registered Posts: 472
    For the payback I had 1.75 years so when they asked what the effect would be if they changed the policy to three years I said nothing as this already came within the existing payback policy of 2 years. That's not to say I had it right mind!!!

    I also agree with a previous post - I did every one of the previous papers and did notice for the last two years or so they have changed them. For a while they seemed to use the same formats again and again but lately have changed things around a bit so I was expecting it for this one. It was the first time they had asked for the limiting factors in that way rather than in the table they usually use.

    The last section on appraisals was pretty much as before as was the stock stuff and the reapportionment but the rest was a little different.

    Did a previous poster mean that they put the answers on the website in 8 days? That would be really helpful before we all forget what we had as, by the time the results are out we'd have no chance and it is good to know where you went wrong.
  • EmilyRushin
    EmilyRushin Registered Posts: 16 Dedicated contributor ? ? ?
    I agree with both of you. From 05 they was all formatted the same and a lot more number crunching them the worded answers. I havent got the most confidence i passed! :( I was ok on the NPV bit and limitin factors. What did everyone get on the Margin of safety? I got 33.33% and 10.00% hope someone got them!? What method did people right about in the first memo!!? Also the fifteen percent discount did people just take tht of theextra 2000 i think i got 7700 for one of them? Id love someone to confirm there answers with me see wether am on the right or wrong track!
  • goldring
    goldring Registered Posts: 45 ? ? ?
    i got the same margin of safety as you.

    for 15% discount, the material per unit is £0.2 , if i remember right, then for 50,000 units it's £8000 for 40,000, plus , 10,000 x £0.2x(1-15%), total: £9700 for 50,000
  • AuntieT
    AuntieT Registered Posts: 96 ? ? ?
    Got 33.33% and 10% for margin of safety.

    What did you make of the profit figures though - they didn't seem to reach them - or is it my imagination?
  • AuntieT
    AuntieT Registered Posts: 96 ? ? ?
    goldring wrote: »
    i got the same margin of safety as you.

    for 15% discount, the material per unit is £0.2 , if i remember right, then for 50,000 units it's £8000 for 40,000, plus , 10,000 x £0.2x(1-15%), total: £9700 for 50,000

    Yep that's what I got
  • jenny3549
    jenny3549 Registered Posts: 472
    I agree with both of you. From 05 they was all formatted the same and a lot more number crunching them the worded answers. I havent got the most confidence i passed! :( I was ok on the NPV bit and limitin factors. What did everyone get on the Margin of safety? I got 33.33% and 10.00% hope someone got them!? What method did people right about in the first memo!!? Also the fifteen percent discount did people just take tht of theextra 2000 i think i got 7700 for one of them? Id love someone to confirm there answers with me see wether am on the right or wrong track!

    I got the same MOS percentages as you. I can't remember what the first memo wanted I'm afraid. The fifteen percent discount I took from the increase of £2000 making it £300 off so it came to £9700 - I think!

    Saying that - who knows if I'm right!!!!!
  • jenny3549
    jenny3549 Registered Posts: 472
    AuntieT wrote: »
    Got 33.33% and 10% for margin of safety.

    What did you make of the profit figures though - they didn't seem to reach them - or is it my imagination?

    Not your imagination - that's what I had, neither of them would reach the profit target based on their budgeted sales.
  • AuntieT
    AuntieT Registered Posts: 96 ? ? ?
    jenny3549 wrote: »
    Not your imagination - that's what I had, neither of them would reach the profit target based on their budgeted sales.

    That really threw me - I was prepared for one not to get there but really thought I'd done something wrong when it seemed that neither did. Kept on going round and around!

    Anyone else find that?
  • beavis182
    beavis182 Registered Posts: 130 ? ? ?
    i cant believe i managed to get 33.33% and 10% MOS as well... that question really stumped me and never thought id be correct on that 1.
    For payback period i got 1 year and 9.1 months....

    I feel abit more confident that i did ok now as apposed to coming out the exam yesterday feeling like i messed most of it up.
  • EmilyRushin
    EmilyRushin Registered Posts: 16 Dedicated contributor ? ? ?
    Did people right about lifo or fifo in the first memo? What did people get for there under or over..i wasnt sure what to write for reasons why it would be that! i also got they wouldnt reach there target profit! im really not feeling confident though, always resit in aug for me :( does anyone know with the computer bsed exams do you have to reytake both if you just fail one?
  • beavis182
    beavis182 Registered Posts: 130 ? ? ?
    for the stock record card i got that it was FIFO then i wrong about LIFO being another method of stock control.
    I think i got 4000 Over Absorbed.
    Not sure on the CBE's but i expect ill be looking to retake in August..
  • AuntieT
    AuntieT Registered Posts: 96 ? ? ?
    beavis182 wrote: »
    for the stock record card i got that it was FIFO then i wrong about LIFO being another method of stock control.
    I think i got 4000 Over Absorbed.

    I got FIFO, why wrong about LIFO being another way? I put AVCO but why do you think wrong- it is another way, may not be one that Tax man like but.....

    I got 4000 over absorbed as well
  • speckled_00
    speckled_00 Registered Posts: 21 Dedicated contributor ? ? ?
    Feeling much more confident I think after reading this, I've agreed with all of your answers pretty much...
    1 yr 9.1 months for the PBP
    33.3% & 10% for the MOS
    £9,700 for the discounted figure
    FIFO for the first section, and suggested Avco as an alternative
    £4000 over absorbed
    Said they wouldn't reach their target profits as their forecasted sales weren't enough...
    So! Fingers crossed for us all! :) Now just FRA to deal with..... :S
  • beavis182
    beavis182 Registered Posts: 130 ? ? ?
    oops sorry i meant wrote about LIFO on the next bit..think it said what other ways are there for stock control?? minds gone blank.
  • nabz
    nabz Registered Posts: 5 Regular contributor ⭐ ? ⭐
    beavis182 wrote: »
    for the stock record card i got that it was FIFO then i wrong about LIFO being another method of stock control.
    I think i got 4000 Over Absorbed.
    Not sure on the CBE's but i expect ill be looking to retake in August..

    Yep thats exactly what I got £4,000 over absorbed. I have also used LIFO for another mothod of stock valuation but a few of my class mates have used AVCO saying apparently thats what you meant to use and thats what Q relates to/indicates for us to use- the AVCO method. Me dont think so! Anyway who said they could be right only time will tell now! I'm starting to get brain dead for FRA now...too much to take in arrrggghhh!!!
  • EmilyRushin
    EmilyRushin Registered Posts: 16 Dedicated contributor ? ? ?
    I Have completely balls uppppp! so frustrated i obvs didnt read the question and wrote about fifo in the memo! did u think cuz i carried it on writing about it i could gain marks if wrote about the right profit and closing stock it gives or have i lost all marks?:( resit for me
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