Just Sat PEV.............

System
System Posts: 100,534 πŸ€– Admin πŸ€–
edited 10:28AM in AAT student discussion
Thought it wasn't too bad on the whole but a few things threw me.
I think i messed up the seasonal variation % question, i calculated each qtr's seasonal variation increase and ended up with 9%, -5%, +5% and 10% for each qtr. I think this is wrong!!!
The marginal statement got me too any one knows what the differences between the two statements were?

The second half of the paper was ok, i'd never come across the cost thingy before in 2.2 but i think i had it figured after i calculated the cost (450).

How do you all feel now you've taken it? Im just so glad they didn't use a service center to do question 1.1 on, i was so relieved when i opened the paper.

Comments

  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    Hi

    I thought is was quite a good paper, but nerves got the better of me. The seasonal variation one I only calculated the overall increase in growth over the year. The target cost one - I agree with your answer. The report I think I waffled too much and I couldn't remember the purpose of the stock turnover ratio.

    Well back to books ready for Thursday.
    Eva
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    Hi,
    Just got home also!
    Wasn't too bad was it, the TAC absorbs the fixed overheads into the standard cost per unit, marginal costing doesn't so the fixed costs are treated as period cost with the variance being actual fixed overheads less budgete fixed overheads (i.e. expenditure variance)

    The second half of the paper threw me!!

    What was that revised ROCE thing about??, I got a revised profit of both companies together (increased by savings on admin exp) and a revised assets figure of both companies together + 500,000 capitalised goodwill..I thought you couldn't capitalise goodwill though, I thought you had to take it out of the b/s but couldn't remember so just left it in! :? :?

    Hope eveyone feels okay! At least it's one out of the way :)
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    I got stock turnover wrong also, just checked in my books. Oh well....
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    How did you work out the stock turnover, I cant find it in any of my books!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    cost of sales/stocks
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    Wow!

    I thought overall the paper was generally ok. The seasonal variation threw me a bit and I also calculated the overall increase percentage rather than the individual quarters!

    I also got £450 as the cost thing - I have heard of it before but blagged through that one!

    I got my stock turnover wrong, I calculated it as stock/cost of sales!

    Oh well!!! We've got a while yet until the results!

    One down and 2 to go!!!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    I found the paper relatively ok although my first rec didnt balance... dont know why because the second one did. I went back over my variances and couldnt find the difference no matter how hard i looked!

    task 1.2 was a bit naughty i thought as it wasnt too clear on what you was required to do.

    All in all though not a bad paper even though I dont feel too confident i will pass it!

    :?
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    Gees, I thought the paper was okay, but in hindsight:

    I added on positive seasonal variances and minused negative (wrong) though am sure my further calculations were correct (if I get marks for that) and later waffled that the data was secondary =/ - utter rubbish.

    My marginal operating statement was also a little made up (basically doing the same absorbtion statement less the fixed element) ?

    Used revenue/stock for stock turnover for some reason?

    Really messed around the with ROCE towards the end - I'm usually pretty good with this, but was very stumped. What was the right answer here and how did people go about it?

    Kris

  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    I did the marginal statement the same as you Kris - worked out all the direct costs, got cost of sales and then added the overheads to give actual to actual.

    Although my first rec didnt balance, (and it will annoy me until i see the answers and i cheated a bit and stuck it in over absorption looking for initiative points....!!), the actual costs balanced on both recs.

  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    it is stock over cost of sales isnt it??

    :?:
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    It looks like we all stumbled at some places, the marginal cost bit threw me, and I have done it wrong although don't know why, because when I was going it I knew the fixed costs werent supposed to go in but I still did it.
    Seasonal Variation - well that was a werid one, not sure what we were supposed to do but made it up a bit.
    THink my report was waffle,

    But hey its done now, can't change it. One down two to go...... Finance NEXT Lurvely :?
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    Whoo hoo! Just checked the text book and stock turnover is Stock / Cost of sales.

    But I used months rather than days.

    Just realised I may have made a complete mistake on my marginal/tac statement!

    Oh well, what's done is done!!!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    average age of stock is Stock / Cost of sales

    stock turover is cost of sales / stock

    I think they asked for the later, but i also did the first by mistake- i couldnt remember which was which. :roll:
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    well done bones im glad you have checked coz thats what i put - stock/cost of sales

    :D
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    I thought that it was the same thing. I'm staring at my text book now and it says Stock turnover (also called stock holding period) is closing stock / cost of sales x 12 (or 365 if you want it in days).

    Like I said before - possibly on another thread, what's done is done, we can't change it now. Let's just have our fingers crosed!!!! :roll:
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    i thought thats what you said??

    stock over cost of sales x 12 (for months)? thats what i did... is that right..? im confused :?:
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    Sorry Michelle, that is what I said, was responding to AngieM
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Just Sat PEV.............

    its ok bones my head is mushed...

    ive been looking at PCR this evening coz ive got that lovely baby to look forward to on thursday....oh woe... :roll:

    then i got bored... opened wine..... :D

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