Financial Performance - question 1.4 on CBAs

amyjayne27

Hi all

I am comfortable with question 1.4 (Its the one with a chart and you have to calculate the actual cost at actual production then then the variances and then standard cost at actual production.)

The only thing I dont understand is with the total variance, on some of the CBAs I have done its been a minus which to me makes sense as its deducted from standard cost at actual production to arrive at actual cost at actual production, but then others have been the same but no minus has been inputted?

I know its a small thing but I dont want to lose silly marks.

My exam is on Wednesday, feeling very nervous and just want it to be over!

Thanks in advance

SandyHood

My advice is to show the minus sign where it applies.

The table layout is typically Favourable variances on the left, Adverse variances on the right

Find the total adverse variance and take away the total favourable variance (I know this is not automatic to take a left hand figure from a right hand one) and put the whole answer in the box for total variance (including the minus where applicable)

Good luck in the exam, and I hope this gives you clarity.

amyjayne27

Brilliant thank you Sandy.

Something else I have thought about, with the written questions where you have to fill in to, from, subject, date etc - is there a particular way of doing this or can it just be from accounting technician, today's date etc.

Thanks for your help

SandyHood

I doubt the examiner would differentiate between names. My guess is that you'd receive the mark, so long as you make an entry.
In the sample exams, you are told who to write to, and they have used AAT Student. That works, your own name would probably work just as well and so long as the date makes sense with the data given then any date would probaly work.
I recommend using AAT Student and the date you sit the exam unless you have specific instructions otherwise, that will save you having to think about it in the exam.

amyjayne27

Thank you Sandy!

Just need to get my head around the written questions as everything else I think I understand.

If I completely messed up on the written questions but did well on other questions do you still think it would mean a pass?

Thanks for all your help so far