PCR written questions

Priya-p

Hello all

PCR tomorrow, just wondering if any 1 can give me some tips on the written questions? i find these the most difficult

thanks

EAP

Some of the questions that have come up in the past:

Overcoming labour restriction: outsource, offer discounts, increase selling price or increase permanent staff
Explanation of variances – don’t just say it cost more (or less) – say why you think it might have cost more/ less – relate back to scenario if possible
Questions about budgeting and motivating managers – bonuses, advice from accounts dept, training and involvement in budgets all help to motivate managers.
Questions about sampling come up a lot: true random sampling = every item in the population has an equal chance of being selected as part of the sample.
Systematic sampling = random 1st item then every nth item afterwards
Stratified sampling = splitting into groups then subsets of the groups to ensure that all groups are represented in the sample.
Marginal v. Absorption costing comes up a lot – you need to know why marginal costing means the operating profit for the period is less than under absorption costing (this is because the stock “absorbs” some of the fixed cost under absorption costing but marginal costing charges it as a period cost.)
Of course, it’s possible that none of these will come up, but this is what I have seen from past papers – can anyone else add to this list?