PEV - Croxton Ltd Jun 2003

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:25AM in AAT student discussion
Hello Everybody,

Does anybody have the answers to the above exam question please? Sandy Hood very kindly sent it to me, and I appear to have mislaid his email address. (It's probably underneath the piles of revision notes I have!).

Anyway, it's driving me mad not being able to check it....... One moment I understand these variances, then the next...!

Thanks for your help.


my email address is: moonan@ntlworld.com

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    I don't have the answers but could you let me have copy of the exam paper.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    Certainly. If you send your address to my email, I'll pop one in the post for you. (I only had it hard copy)

    Suzanne
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    Hi Suzanne

    A short time ago I e-mailed Sandy because I had to cancel going to one of his revision course so at the same time I askes whether he could e-mail me a copy of the exam paper and answers which he has just done so but looking at the pages he sent me the questions twice and not the answers. So thanks for your kind offer but I now have the questions and like you need the answers.

    I will do the questions tonight and hopefully someone may have the answers.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    Try this link
    http://www.aat.org.uk/forums/posts/list/1149.page#4654
    This is an answer I put up a long time ago.

    Let me know if you have any questions

    Suzanne I got your email, but my system has gone down until tomorrow so hopefully this reply will be quicker

    Sandy

    sandy.hood@chichester.ac.uk
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    Hi Suzanne

    I managed to get the answers from a friend they also had the questions and answers to December 2002 have brought to work and when the scanner is free will scan them both and e-mail to you.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    Hi Suzanne

    Questions and answers for both PEV December 02 and June 03 have been e-mailed to you.

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    Thank you Kiwi and Sandy for all your help. It's very much appreciated!

    Suzanne
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    Hi Sandy

    can you send me questions and answers on anything u have on units 8 and 9? I have FTC books but they only give 1 exam per unit, which isnt very good... i have seen the past papers on this site, but wanted different type questions.

    thanks

    michellerobertz@btinternet.com
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    If you look at Osbourne Books website osbournebooks.co.uk you can buy the work book for PEV and PCR which gives you losts of questions for for both and you can also buy the answer book.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    Hi Michelle

    I have just e-mailed you the past exam papers and answers for PEV for December 02 and June 03. I have also sent four of each practice exams for PEV and PCR along with the answers from my Osbourne work book.

    Hope this is of help. Have you asked FTC if they have any more practice exams for you to use.

    Regards

    Kiwi
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    Hi Michelle

    I have tried to send you questions and answers by e-mail with the address you have given which has come back undelivered. I have tried again but put an s instead of a z after robert in case you did a mis type.

    Regards

    Kiwi
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    Second attempt and sending the questions and answers has failed do you have another e-mail address

    Kiwi
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - Croxton Ltd Jun 2003

    I appreciate that I have sent several people answers to this paper and this may seem an unnecessary posting, but as I have answered an email with this answer in the last hour I have put the emails together here for anyone else wanting to check their answers

    1.1
    a i 410 litres
    ii 400 litres
    iii £8.50
    iv 320 hrs
    v 720 machine hrs
    vi £14,400
    vii £16,250
    viii 640 machine hrs
    ix £39,360
    x £43,023

    1.1 b
    i £615 F
    ii £600 A
    iii £164 A
    iv £64 A
    v £1,850 A
    vi £1,600 A
    vii £320 A
    viii £1,280 A

    1.1 c
    Standard Cost of Actual Production £39,360
    The variances net off to £3,663 A
    Actual cost £43,023

    1.2 in Memo format

    a £57
    b due to price index £1,230 F
    other reasons £615 A
    c changes in market prices not efficient purchasing
    d i Mat usage could be explained as 10 litres excess = 1 barrel
    ii 8hrs - this could = 1 barrel scrapped
    iii £164 - only £64 is explained by scap barrel 8hrs overtime at £8/hr
    £100 is unexplained

    e The split between processing and finishing is based on budgeted machine hours rather than the specific consumption of overheads by the departments.
    Section 2
    a 28.75%
    b 56.25%
    c 2 times
    d 57.5%
    e 8 months
    f 1 month
    g £67,500
    h £8
    i £120,000
    j 15,000
    k £2,400

    2.2
    a Productivity and Efficiency mean the same to most of us. At the time the paper was set the then examiner wanted to distiguish between proctivity measuring units and efficiency as a financial measure. I do not expect the current examiner to consider the two as fundamentally different.

    b Age of the assets
    Difference in the depreciation rates
    c Reducing the value of the fixed assets through depreciation
    1 lowers the value of the capital employed and
    2 lowers the value of the profit (return)
    As both reduced amounts are the same value, the likely effect is that the ROCE % will fall.
    d Stock valuation policies
    At a time of falling prices (bullet point 1)
    FIFO will over value issues and under value closing stock. Operating profits will be understated and stock values will also be understated.

    LIFO will under value issues and over value closing stock. Operating profits will be overstated and stock values will also be overstated.

    e How do we know that the employees are really adding value? Is the shop self-service or do the shop assistants actually discuss the books with the customers. (Did you ever see how differently 2 book shops can be run in "You've got mail" starring Tom Hanks and Meg Ryan).

    How many employees are part-timers? If one shop has only full time staff the added value is only split amongst them if another one has a much bigger staff but most only work 10 hours then the comparison becomes meaningless

    f Possibly transactions per employee, but you can probably think of better ones.

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