ECR - how did we all do?

24

Comments

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    Think I did bad on second section to
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    i found section one fairly easy and i was quite content with my answers ........ however section 2 killed me and i am doomed to fail, as i doubt i showed enough competence in section two for the paper to be passed , oh well no use crying over what is done lol, just get on and wait for the results :)
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    Oh yea forgot If I fail both can i still go onto next year or do i have to do this year again.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    I kinda struggled on the process costing thing, I so dont remember my tutor teaching us that.

    Not looking forward to wednesday's exam.

    need to look at sooooo much still.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?
    babecil wrote:
    Oh yea forgot If I fail both can i still go onto next year or do i have to do this year again.

    if you fail both then you will have to resit, there is no way of doing technican level with out the intermediate
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    yea but can i resit in DEC and still cary on ???????
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    what apportionment method did anyone use for the power costs i was torn between 2 and think i used the wrong one, and i also struggle with MOS% fingers crossed, its been just too hot lately for an exam and my migraine just didnt help yesturday only 2 months the wait and well theres nothing much gthat can be done now
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    Wasn't power costs split by % between 2 i fink it was but then head is fryed and can't quite remember.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?
    Ruskii wrote:
    I dont know how I did, my brain froze half way through the allocation and apportion section !

    I had problem too with that task, especially about rounding issue, in the instruction they didn't tell if the rounding is to the nearest ร‚ยฃ or 2/3 decimal, etc...so my totals were wrong for difference of pennies! :(

    Hope I will get credit with calculations even if figures were wrong... :?

    How did you round it?

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    I apportioned power to machine hours????
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    I found the allocation/apportionment part my strongest point. I think it was electric & heating was apportioned on floor space and then power was allocated not apportioned...the figures for each department were in the question so no calculations were needed for that one.
    As for rounding, I came across that problem in the skills based test, so this time I didnt round the pennies at all, however many decimal places were on my calculator is what i multiplied by, then I rounded to the nearest whole pound...it worked for me because all the figures came out ok and added up ok.
    OK now this is what ot me though.....the flamin first question! I was happy when i saw it because i thought 'cool I practised this last night' but then I couldndt get fifo, lifo or average to work...where did i go wrong?? :?:
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    Oh yea wot ones were done by % then i did allocate them
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    uhmmm gosh cant remember now, it was the last two wasnt it, when apportioning the service cost centres to the production cost centres i think
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    The first question was definitely FIFO. 4000 units at ร‚ยฃ1.50 (ร‚ยฃ6000 divided by 4,000 units, already typed in).

    The receipts on next line were ร‚ยฃ1.60.

    Therefore: 5,000 issues apportioned as follows:

    4,000 @ ร‚ยฃ1.50 = ร‚ยฃ6000
    1,000 @ ร‚ยฃ1.60 = ร‚ยฃ1,600

    Total : ร‚ยฃ7,600 (which is what they told you in the question)

    That's how I read it anyway :roll:
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    Yea fink that was it lol
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    I got stuck on Q1 for ages too - kept looking and looking at it, went for AVCO in the end but knew it was wrong. My friend has told me it was FIFO - they used the 4,000 at one price and then 1,000 at another price. Very sneaky, not one of the previous ones has been done like that and it looks like it was there to catch us out. I know I got that wrong anyway, but found the rest not too bad so still keeping fingers crossed....
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    In the words of the great homer simpson....DOH!!!

    I cant beleive i missed that! Ugh that is so frustrating, I went with AVCO in the end too. Ho hum guess i got that wrong, will just have to hope the rest is ok.

    I am so annoyed with myself now :evil:

    Thanks for clearing that up for me though its been playin on me since i left the exam!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    It had me stumped for ages too - it wasn't laid out in the same way as all the others we've done.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    I know - it seems so obvious now, but I can't believe I missed it either. I don't think we're alone though, others I have talked to really struggled on that aswell. And we all thought it was going to be the easiest question.... :(
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?
    Vixy wrote:
    I think it was electric & heating was apportioned on floor space and then power was allocated not apportioned...the figures for each department were in the question so no calculations were needed for that one.
    As for rounding, I rounded to the nearest whole pound...it worked for me because all the figures came out ok and added up ok.

    That's exactly how I worked it out in the end, I rounded all my workings to the nearest penny, it all added up in the end correctly so what ever method I used it seemed to work !

    The first stock question, I was naughty in my revision and I only did one past exam paper, but did check out a few of the other papers, I got the FIFO thing straight away.
    caroleroo1 wrote:
    The first question was definitely FIFO. 4000 units at ร‚ยฃ1.50 (ร‚ยฃ6000 divided by 4,000 units, already typed in).

    The receipts on next line were ร‚ยฃ1.60.

    Therefore: 5,000 issues apportioned as follows:

    4,000 @ ร‚ยฃ1.50 = ร‚ยฃ6000
    1,000 @ ร‚ยฃ1.60 = ร‚ยฃ1,600

    Total : ร‚ยฃ7,600 (which is what they told you in the question)

    That's how I read it anyway

    That's exactly how I worked it out as well, so I'm glad someone got the same workings as me !

    That last question in Section 2 I bombed out on:oops:

    Who recommended that the company should go ahead with the investment ? I thought it should until I re-read the question about the company policy. To bad anyway .. I think I'll be resitting in DEC ! :lol:
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    I thought it should as it had such a good NPV, however, after much deliberating, decided to NOT RECOMMEND it on the basis of the company policy of 1 and half years payback. I got just over that.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    A few other students I have spoken to DIDNT recommend it as well. Ah well, it's done now, and I dont think I should think about it anymore ! It's not doing my confidence any good ! :shock: :roll:
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    I wrote that although there was a positive NPV I recommend that the company do not go ahead due to the payback period being longer than the company policy allowed for.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    I think i Flopped it!!!

    Cant believe it i revised so hard!!!!& new all the old pass papers!!!!!

    As the paper just threw me off and i got stressed out!!!

    My apportion table didnt match with the total going down and across!!!

    What did any one get for there OAR?
    (I put my formula for the OAR do you think i could get marks as my table was wrong my OAR would be wrong!!!

    Ow and for section 2 what did anyone get for that profit think????


  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    Arrgh. I'm such a dope. I missed the obvious (as is always the way) I thought they'd done a missprint! I hope they don't hold my stupidity against me, as the rest of my paper should have been spot-on (I hope)

    Why, when I learnt all my process costing (where was that by the way) and was pretty good at apportionment etc etc did I flop on a simple stock valuation question? Talk about wood for the trees!

    Never mind - I'll be gutted if I fail just coz of that one question.

    DOH!!!!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    No Surprises!! I thought the 1st two questions were going to be guarenteed as good ones for me. It took me forever to work it out :evil: . In fact I left it and returned to it at the end, when I wasn't panicking so much. Then I felt like a complete idiot when it fell into place :shock: . Having read the comments on the forum, I feel OK about this one. I have already signed up for my email for results, so roll on 15th August!!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    i used machine hours too for power that makes me feel better knowing others did
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    Yer, got my other exam tomorrow, just revising now, but hope we dont get, disposal and aquisitions.
    :oops:
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?
    katie liverpool wrote:
    Yer, got my other exam tomorrow, just revising now, but hope we dont get, disposal and aquisitions.
    :oops:


    I got the feeling we will get disposal in part-exchange including VAT...the worst can happen in an exam as the hint from Chief Assessor said "Accounting for part exchange of a new asset: A Worst case scenario for an exam question would be in the FRA specimen paper"
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:ECR - how did we all do?

    Oh my god, what is that, does it just sound scarier than it is? :shock: :shock:

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