PEV Exam -

System

That's the hardest one over with!!! Just got back from PEV exam, few surprises sneaked in there.

I.E Dollar Exchange in Section 1, hopefully i answered enough to get through. I like to hear some views to cheer me up though.

Section 2 was better.

Good Luck to everyone doing PCR on Thursday!!

Love Shazza

System

Re:PEV Exam -

Yep thought that section 1 was very tricky. Couldnt get my reconciling statement to balance for the lifein me and the dollar to pounds part was a bit nasty.... I ended up with an increase instead of decrease. Oh dear. Sailed though section 2 though. Hopefully did enough to pull through x

System

Re:PEV Exam -

Hi

What figures were you reconciling to in your statement, could decide whether it was just the production overheads or total cost

Debs

System

Re:PEV Exam -

Sorry, couldn't decide which figure to use

Debs

System

Re:PEV Exam -

Sorry, couldn't decide which figure to use

Debs

System

Re:PEV Exam -

Sorry, couldn't decide which figure to use

Debs

System

Re:PEV Exam -

They asked you to reconcile only the overheads- incurred against absorbed. That's what I did anyway- only put in the Expenditure and Capacity variances. Hoping I'm right. anybody else did this???

System

Re:PEV Exam -

They asked you to reconcile only the overheads- incurred against absorbed. That's what I did anyway- only put in the Expenditure and Capacity variances. Hoping I'm right. anybody else did this???

System

Re:PEV Exam -

They asked you to reconcile only the overheads- incurred against absorbed. That's what I did anyway- only put in the Expenditure and Capacity variances. Hoping I'm right. anybody else did this???

System

Re:PEV Exam -

Yes I only included overheads. And included overhead expenditure, capacity and efficiency variances. Actual cost was £70000 and standard costs was £72000. should have had total variance of £2000 f

System

Re:PEV Exam -

Hi

I thought is was a reconcilliation between the actual overheads and the actual overheads absorbed.

I think the actual was £70000. Wouldn't the actual overheads absorbed been £12 multiplied by the actual labour hours 6200 giving a figure of £74400? I couldn't get mine to balance but I forgot the Expenditure Variance, I only used the FOH Volume variance of £4800F.

System

Re:PEV Exam -

i wasnt sure which figure to use as standard cost either so i worked backwards.

Added up variances of £2000 F actual cost of £70000 and then figured out my standard overhead cost had to be £72000

i did whatever the OAR figure per unit was x actual production and it came to £72000

System

Re:PEV Exam -

Didn't like the exam at all I do remember the reconcilliation, whether it's right or not I don't know, but it fits.

I worked the Reconcilliation as :

(600,000 / 1000) = 600 x £120 standard cost = 72,000

Expenditure £2800 (A)
Efficiency £2400 (A)
Capacity £7200 (F)

Leaving an overall variance = £2000 (F)

Making your reconcilling = £70,000

Couldn't get my head round the final memo either, so waffled on about the meaning of the ration analysis, rather than actually listing, and analysing the difference following the improvements listed. So I know I lost marks there, but fingers crossed I go enough to scrape through...

System

Re:PEV Exam -

Reconciliation was between incurred overheads of 70,000 with Expenditure var of 2,800 (A) and Capacity var of 7,200(F) giving a difference of 4,400(F) which reconciles to overhead absorbed of act hrs 6200 x 12 OAR = 74,400. It works out right so I hope it is right

System

Re:PEV Exam -

MarieP wrote:

Didn't like the exam at all I do remember the reconcilliation, whether it's right or not I don't know, but it fits.

I worked the Reconcilliation as :

(600,000 / 1000) = 600 x £120 standard cost = 72,000

Expenditure £2800 (A)
Efficiency £2400 (A)
Capacity £7200 (F)

Leaving an overall variance = £2000 (F)

Making your reconcilling = £70,000

Looks simular (if not the same) to what I did, can't remember exactly. What was the memo required? I can't remember it already!!

I thought the exam was fairly easy in both sections compared to previous exams to be honest.

Section one, as long as you read the questions properly, was fairly easy to do. Exchange rates although new to the paper was pretty easy if you had learned how to do it.

Section 2 had only the easy ratios and as long as you could write the usual rubbish in the written questions wasn't that hard. The one thing I wasn't sure on was I think the ratio per employee, when you did the revised amount should you have used the original 70 (which came to a normal number) or 71 including the extra control staff member (which came to a dodgy number with decimels).

Also what is the point of the P+L? I mean how easy was that? Anyone who is doing/has done FRA or DFS would have found that so simple to do.

System

Re:PEV Exam -

thats exactly how i did it aswell. i think i was okey with section one though i did not do task 1.3 , two tasks are enough.
The last section, saw a lot of cancellations ! first ratios was fine but i messed up the reconstructed pl which might affect my memo.
i am so sad

System

Re:PEV Exam -

Hi

Yes i did the same too, had to think about that one and come back to it at the end. I couldn't get mine to balance though, reckon i did the absorption rate wrong i had £12???? i think mine was £800 out. I spent 45 mins to try and do the dam thing but i couldn't get it to reconcile so i just left it in the end and have my fingers crossed.