Financial performance round 2!

Sammmy88

Perhaps alphabetically by last name :-p

Jetina

Well done Morpheus!

For some reason the people at college who sat the exam in the evening got their results before those who took it in the morning... only by an hour mind you

Sammmy88

I passsssssssssssssssssssssssssed!!! So chuffed!

jane

:mad2:
Another fail for me!!! Back to the books - am so fed up now

Well done to all that passed, really chuffed for you.

J xx

azzy

hey jane,

i know how ur feeling , i didnt pass!!

according to my feedback looks like its the seaction 2 written

S1
1.1 - 1.5 exceeded
1.6 - borderline

2.1 met
2.2met
2.3 borderline
2.4 did not met

how was anyone else feedback like???

thanks
azzy

Whirlwind

Well done guys!! Fantastic news!!

For those NYC - dont lose heart, its not called 'the Nasty' for nothing!!

Chelle

Sammmy88 wrote: »

I passsssssssssssssssssssssssssed!!! So chuffed!

Sorry I didn't see this before replying to your other post. Well done you :-)

Chelle

Well done everyone that has passed :-)

missm4ry4m

I failed FNPF

Whirlwind

So sorry MissM4ry4m - its a not yet competent though!

Mollypod88

I'm finding FNPF seriously hard! Standard costing has gone straight over my head

salih

Can someone help me on 2.2 on CBT 3

Jo Clark

What is the question, in full? I can't and neither can others who have no access to the assessments help unless you post the question.

Nps

And again, can you give us some indication of which bit you are stuck on. Show us what you've been able to do on your own or show us your workings so far. It's difficult to gauge our responses if we don't have an idea of how much you understand already. It's no good us just keep typing out the answers for you. As I said in one of your earlier posts, if you are consistently stuck on complete questions, then I think you need to be going back to your text books before attempting full practice assessments.

Nps

Hang on, you've asked us to explain the question that this thread is based on. Most of the answer is already clearly explained in the 2nd post.

Jo Clark

and no please or thank you again....

Nps

You read my mind! :laugh: Thought I best resist the urge to pick up on it again else I'll get myself a reputation as a right stroppy mare!

salih

2.2) An organisation makes two products, the flip and the flop. Both products uses the same raw materials(plastic). This material is in short supply and a limiting factor. The following is available for the next period.

demand has been estimated at 10,000 flips and 20,000 flop
the sales price per unit is £30 for flip and £40 for flop
The material cost per kilogram of plastic is £4.00 and the material requirement is 2kg for flip and 3kg for flop
the supplier of plastic has said the only 50,000 kg will be available in the next period.
the labour cost per unit is £10.00 for the flip and £13 for flop
Labour cost variable
Fixed cost of production are £5.00 per unit for the flip and £7.00 per unit for flop.

a) The full production cost per unit for flip........ and for flop.......
b) Total material reuirement for the period is ...........kg and the shortfall is ........kg

Thats the question im having trouble with, I know how to get the contribution cost which is the selling price £30.00 - the variable cost which are in this case materail and labour. £30.00- £10.00- £8.00( £4.00 X 2kg)= £12.00.

For a i do material + Labour + Fixed, £10.00+£8.00+£5.00= £23.00. Want to make sure if thats right
But i dont know how to calculate part b.

If you can please help me on this part of the question and explain how to do. It would help me out alot.

Thank you.

Dahir Ahmed

Hi Salih
What is being asked in part b is how much material is required to make both products so as to satisfy/meet the demand for both products and also the difference (shortfall) between the total materialrequirement and what the supplier has advised is actually available.

Nps

Yes, you are correct in your workings for part a, you just need to do the same for Flop as you did for Flip to get the other half of part a.

As Dahir has posted above - The question tells you how much material is available from the manufacturer and that this is going to be a limiting factor (i.e. there isn't enough available to fulfil all the orders). Part b is asking you how much extra you would need to make as many Flip's and Flop's as you need to. The question tells you how much material is needed for each Flip and each Flop, as well as how many Flip's and Flop's you need to produce in total, so you can work out how much material you need in total. Compare this to how much is actually available and you get your answer.

salih

so it would then be 10,000 X2= 20,000 and flop 20,000 X 3= 60,000 + flip 20,000= 80,000. After that like you said get the difference between the total material and the requirment so therefore it would be 80,000-50,000= 30,000 for the shortfall? would this be right by any chance?

Dahir Ahmed

Correct Salih.

salih

I see thank you for your help. You made me understand the question more need to read the question slow and think it through on what the question is asking for. Thank you again, there's another question im stuck small thing but im going to give a shot first.

salih

also good luck in your budgeting exam it's really easy :laugh: