PEV - help needed!

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Please tell me if this is correct?

December 2005 paper
Task 1.1
(a)
(i) actual cost/actual quantity
(ii) actual output/standard output x standard usage
(iii) actual cost/actual hours
(iv) actual output/standard output x standard hours
(v) budgeted output/standard output x fixed production overheads

(b)
(i) (actual-standard) x actual quantity
(ii) (actual-standard) x standard price
(iii) (actual-standard) x actual hours
(iv) (actual-standard) x standard price
(v) (actual-budget)
(vi) (standard-(bugeted output/standard quantity)) x standard price
(vii) (actual-(bugeted output/standard quantity)) x standard price
(viii) (actual-standard) x standard price

Also does anyone have any detailed notes on these types of equations?

Thanks in advance!

Bry

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - help needed!

    Have a look at this link. There's quite a few methods that might help.

    http://www.aat.org.uk/forums/posts/list/13823.page

    Good luck!

    Helen

    :lol:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - help needed!

    I've already tried! Makes no sense to me!

    There it says it's always "standard-actual" but in the answers for the past papers they always use "actual-standard"?!?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - help needed!

    Bry,
    this one totally threw me in the beginning and I just couldn't work it out. I always use the PURE AS method and it works for me. You just have to find which one you are comfortable with. I now always use Standard minus Actual. I asked my tutor which way round it should be and he said it doesn't matter as the variance will be the same. Try it!!! I also found that by talking it through as you are doing it helps and imagining an actual senario will give the understanding of why you are doing the variance.
    Cheers
    Mandy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - help needed!

    Thank you both :D

    Do you know of any questions in either the Osbourne Tutorial or Workbork that are very similar to the ones in the past paper?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - help needed!

    I've done some of the practice exams from Osborne's and they really seem to be the 'worse case scenario' in that they cover ALL the topics, whereas the exams can't in the time allowed.

    I've done all the past exams and some of the Osborne ones and am just trying to retain it all!

    The problem is that you won't (necessarily) have the Osborne answers. But I think by now, we all know where are weaknesses lie!

    Try this link too:

    http://www.tutor2u.net/sub_accounting.asp

    They have some slide presentations which tutors use, multiple choice quizzes and some revision pointers.

    :cry:

    Helen
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - help needed!

    Thanks again! I can't seem to find the slideshows?

    EDIT: No worries. I'm being stupid again.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PEV - help needed!


    There's quite a few sections that help with AAT on other topics too. Worth playing with once the exams are over...!

    Helen

    :cry:

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