synoptic paper level 2

Gocer
Gocer Registered, AAT Student Posts: 11
In practice tests they usually give you the fixed costs and I had to calculate the variable cost, total cost and cost per unit. Whereas in the exam the question was harder. The question didn't have the fixed cost. What method are we supposed to use to find out the fixed cost when we only have the number of units and only the totals as far as I remember?

Answers

  • Pian32
    Pian32 MAAT Posts: 448
    I'm assuming you are talking about a question similar to Task 6 from the CBT practice 1. On the table at least one of the rows should have enough information to calculate the fixed cost. (Or another row might already include it)

    As fixed costs are by nature unchanging you can then copy that value into all the fixed costs tables.

    You could fill out the whole table with very little information if you have unit numbers and all totals as indicated then you only need one more cell anywhere on the table. If the unit cost is the same for all then you already have the information you need though can't remember if the high-low method is covered in Level 2 or if that's level 3.
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