# budgeting practice exam 2

Registered Posts: 52 Regular contributor ⭐
Hello, im having problems with Task 1.3 on the AAT online practice simulation. I can complete all of the table up until working out - the closing stock of finished goods £12200 and cost of goods sold £113750. does anyone know how to work this out??

Thanks

• Registered Posts: 118 Dedicated contributor 🦉
Materials £77,800
Labour £34075
Cost of Production = £118,950 / 39,000 units Production * Closing stock of finished goods 4,000 = £12,200 Closing stock of finished goods.

Cost of goods sold
Opening stock £7,000
+ Production £118,950
- closing Stock (£12,200)
Cost of goods £113,750

Hope this helps if not inbox me.
babs
• Registered Posts: 52 Regular contributor ⭐
hey

Great thats fantastic thank also actually i'm having problems working this one out too....

Its working out the flexed budget but im only stuck on the (semi variable energy with the variable energy being £2 per unit.

Budgeted energy 151000 Actual 164000(Flexed volume is also 68000)
Budgeted Units 63000 Actual Units 68000

• Registered Posts: 118 Dedicated contributor 🦉
Hi,
variable element fixed element
£151,000 - (63000 units x £2.00 = £126,000) = £25,000
68000 units x £2.00 = £136,000 variable + £25,000 fixed = £161,000 which gives an adverse variance of £3,000.

Hope this helps.
babs
• Registered Posts: 52 Regular contributor ⭐
hi

Great fantastic thanks for that, youve been a great help
• Registered Posts: 118 Dedicated contributor 🦉
• Registered Posts: 39 Regular contributor ⭐
You are not alone, those got to me too, good luck
• Registered Posts: 118 Dedicated contributor 🦉
This was my favourite exam. Sad I know,
FNST the CBA didn't work properly but we wrote the answers on paper and I passed.
FP I had a tree hit me on the head 2 days before the exam and I had concussion, but I passed.
So I have to say that budgeting was my favourite. I passed.
• Registered Posts: 52 Regular contributor ⭐
hey

It's definately not sad! it's one of my favourite i'd say it's the easiest one and most is just general maths and common sense really. I feel confident enough now anyway so i should be ok. only 4 units left yay! hoping to finish them by April next year it will be a push but if i get my finger out i can do it, and its when my contract for work ends so it would be a perfect deadline!
• Registered Posts: 118 Dedicated contributor 🦉
good luck, it'll be worth it.

Babs
• Registered Posts: 52 Regular contributor ⭐
yay!

Had the exam yesterday, it couldnt have gone better, probably the best unit of the whole AAT!
• Registered Posts: 118 Dedicated contributor 🦉
Fantastic news, let me know your results. x