calling for sandyhood

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi sandy, is there any particular topic we should pay attention for this exam, or is there any study guide from you.

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    Which exam?

    I expect PEV to be 2 sections
    Section 1 Variance based including a different amount going into production compared with the amount purchased

    This is my tip, read every word on the paper and visualise the business as far as you can. Try not to ignore the first paragraph and dive into the numbers.

    There are people learning formulae off by heart - let them. You know what the variances are there for, so show the examiner that you really understand them in the context of the business. And think

    Here is the way I suggest you think about the material variances; this is a cake making business

    Material price variance shows the amount paid over or under the standard for the amount purchased.
    If your firm bought sugar and expected to pay £0.59 per bag but actually bought 10 bags for £4.90 you know they had a favourable variance of £1.00. So think about the business rather than blindly following your formulae.

    Material usage variance shows the amount used over or under the standard for the output. (this difference is valued at standard cost)
    If you made 20 cakes and each cake had a standard amount of sugar of 0.25 bags and you used 6 bags, then you know you used 1 bag more than the standard for this output. So you would have an adverse variance of £0.59 because the standard price of a bag of sugar is £0.59

    Look at this example, 6 bags were issued but 10 bags were bought. So what happened to the stock of bags of sugar?
    It went up by 4 bags. And in a standard costing system these 4 extra bags mean that the stock value has increased by 4 x £0.59 = £2.56
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    Sandy, could you please let us know your expectations for the forthcoming PCR exam

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    Sandy, could you please help me with DFS any idea what to expect this time around?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    DFS is not one of my subjects
    I think peurgeot may have some ideas

    PCR is though

    The Section One question is usually either a company with two products both using common labour and material inputs
    OR a multi-period sales forecast for a single product
    Either format will require a production budget and may then identify that one or more inputs are in short supply so that you need the rework the budget to meet the constraint

    Task 2 Is usually a control budget. I am expecting a task with a recognition of the responsibility of a particular manager so that you can show that you understand how to layout a marginal costing flexed budget, can compare this to some actual results and can then show that the re-charge costs are outside the manager's control.

    I hope that helps

    Sandy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    Thanks for your help. One other query, is there anything that can be tested now that couldn't be tested before in the PCR exams?

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    Hi Sandy

    any tips for section 2 PEV? Thanks
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    Hi, i saw in an earlier message that you have notes on overhead variances. Could you please send anything you have to me? I am doing my re-sit PEV on Monday and I still cannot get them in my head. My e-mail address is - sues12@blueyonder.co.uk.
    Thanks
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    Sue


    You could try searching earlier postings on this site. I don't have notes as such but I have replied to requests in threads of that name.

    Sandy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    Hi Sue,
    I remember this post on the 16/11/05 by Sandy.If you check on this forum ( technician) and look under PEV replied by sandy. Of you can't find it i will post something on the thread to bring it forward.
    lollypops
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    Hi Sandy & Lollypops,
    thanks for your help but I could do with your brains as well (-:
    Sue
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:calling for sandyhood

    .

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