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how did everyone find the pcr?<BR>i thought it was ok.<BR>

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Yes there was guaranteed pay of £6 for 40 employees for 35 hours per week but the question asked you to split it into Labour and Production Overheads and it said to put idle time into Production OVerheads.

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i got 170000 but could be wrong. how did you get 180000?

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It was a stepped cost. <BR><BR>For every 10,000 yorkers it cost them £20,000 in maintenance, so you needed 9 lots of maintenance to make the 85,000 yorkers

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I put the same formula as your!! I also put the working and with the figure on the next page!<BR>I hope it's right!!<BR>I think I'm going to fail Section 1. I did the Overtime and factory overheads wrong!!!<BR><BR>Good luck to everyone who is taking the Personal tax or other exams tomorrow!!!

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I put 180 000 for stepped maintainence costs also. I worked it out by saying that for every 10,000 units it costs £2. as we had 85,000 units i rounded it up to 90,000 as it had to be a whole 10,000 units and then multipied it by the £2. Does that seem right to everyone else?<BR><BR>I thought that the exam was ok, few hard ish questions but thats what you expect if your sitting an exam, you can't know everything. i worked through the hard questions and am hoping that i get carreid forward marks!<BR><BR>We had a formula question in our text book so I was prepared for a question on it. it alsmost caught me out though as the question said that x = 36 for the quarter to 31 december so I used 36 in my equation. I then relised that we had to work out the quarter to 31 March so should have been 37 and 38. Luckily I spotted that before I left the exam. <BR><BR>Thought the email was easy as well. Probably one of the easist written questions I have come across. What did everyone else think of the email.

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I also got 170000 as didnt make 900000 yorkers so X8.5?

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I thought it was all ok too.<BR><BR>I agree with most comments on this page. I used 150% and added the idle time from Period 1 and then the overtime from periods 2, 3 & 4. I also got 180,000 for Maintenance.<BR><BR>I used all of the spare capacity in period 2 (7200) and some of the spare capacity in Period 1 leaving some Idle Time to use above.<BR><BR>I was unsure on the formula's whether they wanted the actual Exel formula or the actual calculation, especially as they gave space for workings on the opposite page. I edged my bets and put the formula in and the answer as well 25300 for period 37 and 24200 for period 38.<BR><BR>Overall on the Flexi budget did everyone get an adverse variance of £35,000??<BR><BR>I thought section one was very time consuming but overall the paper was exactly as expected, no surprises and thats what i like, I just hope Personal Tax is the same tomorrow and if the examiner has forgotten to include any Chattels over £6000 I'll be happy.<BR><BR>Good luck to all taking the exam tomorrow especially the "NELLIST" crew from Chesterfield. Spa Lane at 11.30 I hope and plenty of the cold brown tea all afternoon!

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I agree with daztheracer you had to go in multiples of £20,000 therefore to make the 85.000 you had to round up to 90,000 making it 9 * £20,000 giving £180,000.

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people have worried me regarding idle time??? i didnt do anything to do with that?? i did get period one to have extra hours but when did labour did it as a GUARANTEED pay of £6 for the 35 hours for the 40 employees, hadnt considered any idle time anywhere? thought i had done ok but reading your comments dunno now. anyway am in middle revising for tomorrow, am so so dreading it

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yes i think it was ok. a little time consuming though took me 3 hours and i wasnt sure about the factory overheads. did they mean 150% of direct labour or include otime premium. flexed budget was ok a lot better exam than mondays. still about section 2 of mondays pev. never mind we can all enjoy christmas now. just got to get the dreaded project out of the way.hope everyone did ok today.

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Hi<BR><BR>With the period 36 & 37 from the comment someone made earlier, i thought 36 was included in the table and then the next period definitely followed on from there.( dates)<BR><BR>Also i didn't put any excel things in their, it never occured to me that they would want them, i presumed the actual formula for working out<BR><BR>Oh dear i thought i had done really well aswell.<BR><BR>Idle time as well, never occurred to me,<BR><BR>Never mind all over now.

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Yes, I had an adverse variance on the flexed budget of £35k

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i read it as OVERTIME premium into prod overheads, didnt see anything about idle time, oh well, nerves adn not reading every single word, altho thought i had!!<BR><BR>downhearted now but never mind!

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Dont worry about it now. Idle time was only a small part and it wont matter if youve missed it out. Lots of people Ive spoken to didnt use it either.<BR><BR>Just concentrate on the tax one now - Good Luck!<BR><BR>

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In the notes (in the question book) about the formulas, it did say the table was a spreadsheet<BR><BR>Underneath the table in the answer booklet I wrote a little note saying that I had given Excel formula's in my answer<BR><BR>I'm sure there is no need for anyone to panic. If you got the basic formula right you will probably get some marks for it!

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I came away feeling reasonably happy but now can't wait to see Sandy Hood's comments!! I'm not very good at remembering the wording of questions but thought that the overtime premium and idle time was to be charged to 'OVERHEADS' (as a general heading) and the 'Factory Overheads' (which I listed under overheads heading) was 150% of the production labour cost. I calculated the production labour as the cost of the guaranteed hours less idle time plus the cost of the basic element of the overtime - the premium being listed separately. I now think that perhaps the cost of production should have been multiplied by 150% and the idle time and overtime premium is absorbed in this overhead and is therefore not listed separately.<BR>Also I completed this question as one statement but a friend says she completed it as separate statements for the four separate periods. Don't really know what to think now.<BR><BR>Oh joy - had builders in all week and found it difficult to concentrate with the noise but felt I was coping, just. Never mind there is always the summer.

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If I remember correctly, the question actually asked you to work out the budgeted stepped cost PER UNIT if the maintenance costs were £20,000 per 10,000 products. Under budget, the production was 70,000 units and turnover was £140,000:-<BR><BR>140,000 / 70,000 = £2 per unit OR<BR><BR>£20,000 / 10,000 = £2 per unit<BR><BR>Therefore, when it came to producing the budget, I used the £2 figure that they had asked us to calculate earlier so:<BR><BR>85,000 x £2 = £170,000<BR><BR>So what you are saying is that it costs £20,000 per 10,000 units and I should have rounded the 85,000 up to 90,000 = £180,000<BR><BR>Oh well, hope its the only thing I did wrong...................!! Can't be, because of the idle time, I ignored it, calculated it as guaranteed wages as a direct cost and the overtime premium as an indirect cost as the paper stated that the premium was to go to factory oheads!!<BR><BR>Roll on February....................<BR>

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yea i used 180 000 for the stepped maintenance cost i hope this is right<BR><BR>

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yes I agree, PCR was ok.

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yes I thought it was too..esp after Monday's PEV exam! Can you remember any of your answers?

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I took it as meaning just direct labour and the OT and idle time added to oheads?

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<br><br><< <i>how did everyone find the pcr?<BR>i thought it was ok.</i> >><br><br>

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hey was there idle time,how did you get it?

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Me also - I took direct labour. <BR><BR>Overall I found Section 1 quite difficult and spent a long time on it. I hadnt noticed the idle time until i 'd done the next part so went back and added it in, even then was unsure if did it right!<BR><BR>As for 1.4 - were we meant to put in excel formulas? Guess we were - shame i didnt! THought that was a bit easy.<BR><BR>Was relieved when section 2 was easy.<BR><BR>Now got to get on with Personal Tax revsion.<BR><BR>Good Luck to anyone with exams tomorrow.<BR>

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yes i think you are right. my mistake i read it as total production labour cost so i included the o/time premium and the idle time then added direct labour and * 150%. i revised the production on 30000 for the last 3 quarters. hope i get the same answer as you.

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I had surplus hours in Quarter 1.

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I used 150% of the labour costs, and then added in the overtime premium. I was going to pick out some idle time, but couldn't decide how best to do it, so I left it alone. I reckon that I will loose a couple of marks there, but the rest of the section was fine so I should still pass<BR><BR>With hindsight, it was probably a simple 'unused hours x hourly rate' calculation, but it's too late now to worry about it!<BR><BR>Thought the exam was pretty straight-forward considering it's my first technician one. I finished it in about an hour and half, but was expecting it to be worse, especially as I've missed my pcr lesson for the last 2 or 3 weeks...

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cheers<BR>Good luck to everyone.

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yes i also got 30000 for the last 3 quartes.<BR>but forgot to add the idle time daaaa

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what did you get for the revised production after the material?and what formula did you put for the excell