Process Costing

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:30AM in AAT student discussion
Hi<BR>It looks like the general thought is that process costing will be in the central on the 13th.<BR><BR>Does anyone know how deep the question may go into? Our tutor has said that if there is a question it should go into abnormal loss and abnormal gain but shouldn't go as far as scrap. Does anyone think that the question may go into scrap??? I will probably revise it anyway be be on the safe side as we have done it in class<BR><BR>Also as there are no past papers on process costing it's difficult to judge just what to expect on this subject if there is a process cost question in the exam<BR><BR>

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Process Costing

    I'm a bit concerned about this too. I have a feeling that it is going to crop up in the June exam so I'm going to revise all of it to be on the safe side. As you say, it is difficult to know exactly what to expect when the subject hasn't come up in any previous papers. Fingers crossed that the question is well worded so that we understand what is required.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Process Costing

    Count me in on this one too. It doesn't matter how many times we download past papers off the website for revision, process costing does not appear on any of them - so this really is a grey area!<BR><BR>All I keep doing is going over and over the questions we have already done at college and reading the chapter in the book.<BR><BR>Just hope it is enough!<BR><BR>Heard a rumour that margin of safety was also a possible examinable subject too!<BR><BR>Roll on three weeks tomorrow!!<BR><BR>We will all relax then until August! <BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Process Costing

    <BR>Hi,<BR><BR>Thanks for warning, I will revise these, along with everything else!!<BR><BR>Good luck everyone!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Process Costing

    Our teacher went to a master class in september and the examiner gave the hint to the teachers that process costing wont be examined till december 2005.I hope he is right , we havent covered that chapter in college.Fingers crossed
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Process Costing

    We are all green for go with Process Costing - as far as our tutor is concerned, it's a defo in the central.<BR><BR>Margin of safety was another that we are told is a defo.<BR><BR>Stock Record Cards - we are told that we may have to draft up the tables ourselves, and are then given a bunch of figures to enter as LIFO/FIFO/AVCO. Its that or a memo task - Explain LIFO/FIFO/AVCO advantages/disadvantages etc<BR><BR>But Process Costing is Green for Go, Abnormal Losses - dont you just love them eh !!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Process Costing

    Have just been reading through your messages on Process Costing - am starting to panic a little now! <BR><BR>We have looked into a little at college but not in great detail. General opinion amongst my tutors is that it probably won't be included in this Junes exam as to do so they would have to miss another section out in order to have a standard length question. They believe it will come in on the Devolved Assessments as of next year.....<BR><BR>I really hope so!! Perhaps I will just read over that chapter again.........
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Process Costing

    We were told by our tutor that Process Costing and Marginal Costing were definites somewhere within the next 3 exams, so they may not appear on the ones this June, as apparently they are written at 18 months ago.<BR><BR>I will be revising them just in case anyway though!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Process Costing

    We were told that a memo discussion on Avco/Lifo/Fifo is to be expected, and a simple process costing exam with normal loss (probably with scrap sale) in keeping with the general format of the paper

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