PEV (PBA) June 2011

oh confused one

Was hoping there would be an influx on here of people who had sat this today - I appreciate not many are doing the PBA's now but it is oh so quiet lol

sasperella

funny, i thought the same thing!! how did u find it?? I thought fairly easyish considering they have been pretty cruel these last few papers!!

hell's belle

I sat that exam for the first time today as I had an operation in November so couldn't do it then. There was only me and another girl doing it lol! I was also hoping to find a few more people who had sat it on here too lol! I didn't find it too bad, concidering, although I starting over thinking the overhead variances and then confused myself too much so made an "executive decision" lol and just went with it lol, hoping i've done enough to pass as I really don't fancy re-sitting this! How did you find it?

sasperella

I too found it relatively kind with the questions, variances are a huge weak point for me, they stump me every time!! I thought most of the paper was rather good, indexes....probs one of the simplest things and i couldnt remember how to do them, i have never revised them and we covered them briefly in class!! So to be fare completely forgot, its my 3rd time for pev and its severley knocked my confidence, im hoping i did amazingly well on the kpis and other things to enable me to get a pass : ) tax tomorrow!! x

hell's belle

Compared to some of the past papers they had been quite kind like you say lol! I get stuck on the overhead variances, total mental block and the more I thought about it the more I convinced myself that every variation of answer I worked out was right lol! GOod luck with tax tomorrow, to quote my AAT friend "Its gonna be great!" I said that to myself over and over today lol hope it helped, that and the rescue remedy spray which I was taking every 5 mins to try and calm down lol! Can you remember any of your answers to anything?

oh confused one

can I ask what everyone did for the indexes - I used the Mar Apr May base figures for the Jun Jul Aug was that right and can someone please do the 2nd P & L for me to put my mind at rest thanks in advance

Also the best of luck to those who still have exams to do xx

columbia

I also sat it, but cant remember many of my answers, which is probably a good thing as when people post them I usually think oh god I didn't put that!!

We get results Aug 10, so not much we can do but hope we did enough to pass! This was my 4th attempt!!!!! I studied like mad, but I go blank and forget everything when I sit the exams.

I know my reconcilliation didn't balance (not a good sign!) but I did feel as if I explained all the variances well (I hope!!).

No point in worrying I suppose, although I have already checked if I could sit a computer based one soon whilst all the knowledge was still fresh, but cannot do so until after the results.

oh confused one

I struggled at first with the Labour rate varience then decided to apply reverse variations and do the op statement and see what amount was missing and work backwards to find the answer.

Think I totally messed up 2nd P&L I reckon but only time will tell - think I am extra worried about results coz it was the only thing I failed last summer and didn't feel I wanted to face it in November.

Indexing well I tried and got an answer so the theory was there lol

vika

Some answers I could remember:
Direct material price variance 3600F
Material usage variance 3000A
Labour rate variance 750 A
Labour efficiency var 750F
Expenditure variance 2000A
Fixed o'head capacity variance 3000F
Fixed o'head efficiency variance 1000F
Has anyone got the same?

oh confused one

yay got all those

hell's belle

I got those figures too apart from the expenditure variance I put 2000F and the o/h cap and eff i said were adverse! I got to the point where i'd convinced myself of so many different answers I just decided to do whatever worked to make the statement balance purely so I could move on to the next part of the question as I had wasted so much time talking myself in and out of different answers lol!

For the P&L option 2 I got £1,300,000 net profit, revenue was £700,000 can't remember option 1 lol!

The indexes I had 3300, 3300 and 3450 I think and the index numbers were 330, 330 and 345, no idea if thats right but thought I remembered the zero being dropped off in a previous paper lol! It went up 200 for each month i think anyway.

I ended up with £2.25 for the sales price to get 25% and the fixed costs were 75p making the variable costs £1.50

So relieved the percentages were mega easy, in the past papers there always seems to be one I could never get right but these ones were really kind, thankfully!

oh confused one

hell's belle wrote: »

I got those figures too apart from the expenditure variance I put 2000F and the o/h cap and eff i said were adverse! I got to the point where i'd convinced myself of so many different answers I just decided to do whatever worked to make the statement balance purely so I could move on to the next part of the question as I had wasted so much time talking myself in and out of different answers lol!

For the P&L option 2 I got £1,300,000 net profit, revenue was £700,000 can't remember option 1 lol!

The indexes I had 3300, 3300 and 3450 I think and the index numbers were 330, 330 and 345, no idea if thats right but thought I remembered the zero being dropped off in a previous paper lol! It went up 200 for each month i think anyway.

I ended up with £2.25 for the sales price to get 25% and the fixed costs were 75p making the variable costs £1.50

So relieved the percentages were mega easy, in the past papers there always seems to be one I could never get right but these ones were really kind, thankfully!

My indexes were nothing like that and I think I got £800,000 net profit on 2nd P&L having redone it from being the same as yours and throwing a wobble at how big the profit was - oh bugger - where did you get your figures from to do the June to August indexes as we were only given MArch to April I just re-used those and used the new seasonl adjustments

hell's belle

I think I had £800,000 for the first one as that rings a bell but I'm not sure. I did the indexes by taking the SV off of the months we were given to work out the trend which increased by £200 so added it to Mays to get June etc (cant remember the exact months but you get the idea) then I used that figure and applied the SV to give the figures for June, July and August then knocked off the zero for the index numbers. Thats what they did in a previous paper i'd done the night before so just copied the pattern lol!

columbia

Pooh, think my variances were different, my first P&L had a figures around 800 or 900 thousand I think, the second one I got £700,000.

I got the same figures as on here for the profit margins, but my indexing was just made up as I went blank!!

I did write down all the formulas in detail, so hope even if I picked up the wrong numbers along the way then they may at least give me something for getting the principles right!

My trouble is that I panic as soon as I go into the room and logic and reasoning seem to disappear.

I have vowed to continue doing at least 1 paper a week, in case I need to resit.

oh confused one

columbia wrote: »

Pooh, think my variances were different, my first P&L had a figures around 800 or 900 thousand I think, the second one I got £700,000.

I got the same figures as on here for the profit margins, but my indexing was just made up as I went blank!!

I did write down all the formulas in detail, so hope even if I picked up the wrong numbers along the way then they may at least give me something for getting the principles right!

My trouble is that I panic as soon as I go into the room and logic and reasoning seem to disappear.

I have vowed to continue doing at least 1 paper a week, in case I need to resit.

you got the same P&L figures as me then so there is hope lol - we can't both be wrong (can we?) hee hee