PEV Todays Exam!!!

System
System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
edited 10:26AM in AAT student discussion
How complex was section 2!!!!

The paper has quite a few errors in it:

Its said on the last question to look at page 6 when it was suppose to be page 8

It didn't say which month to add the net asset increase on to

and it also didn't say whether or not to include depreciation charges! What a CR*P Paper

All I culd do was put my workings and assumptions.

What does everyone else think?
ยซ134567

Comments

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I thought the whole layout of it was pretty crap. Didn't help that the room I took the exam in was next to a hallway (where everyone ignored the signs) and inbetween two classrooms that couldn't make more noise if they tried.

    Can I make an official complaint? If so how and who to?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I have just emailed the AAT with the exact same complaint and also that the room we were to take our exam in was changed at the last minute to a room at the front of the college and next to main toilets. Was extremely noisy and distracting.


    I actually left a note on my answers and highlighted it stating their error and that i had used the data from the proper page no. A classmate spent 30 minutes looking for data that wasnt there.

    Not the first time that errors have been on exam papers though. Bit of a normal thing for the AAT now!!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    PEV Todays Exam!!!
    Beka wrote:
    How complex was section 2!!!!

    The paper has quite a few errors in it:

    Its said on the last question to look at page 6 when it was suppose to be page 8

    It didn't say which month to add the net asset increase on to

    and it also didn't say whether or not to include depreciation charges! What a CR*P Paper

    All I culd do was put my workings and assumptions.

    What does everyone else think?


    Agree with u...i added to November assets as assumed and included depreciation charges for the buying statement.
    I was glad it didnt get too technical lol

    They stopped us halfway through and told us the adjustment for the last question...btw does any1 know what lifecycle costing is?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I think life cycle costing is where you include the whole costs from start to finish in the year of acquisition (or thats what I did anyways). Think the person who wrote the exam must have been in a bad mood when doing so. I think I coped quite well considering though. Fingers crossed for February!!! And lets hope the others are a bit easier. :?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Lifecycle costing is where you calculate the complete cost of something from start to finish-I think. Now I'm starting to doubt myself!!!

    What did everyone get for profits on the rent/purchase of the machine. I got ร‚ยฃ168,000 for renting and ร‚ยฃ200,500 for purchase. I added the net assets from November but what did everyone add to it? The paper was so bad-very confusing!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I am livid, I was one of those people that thought I was obviously missing something when it said to look at page 6. I spent nearly 45 minutes on looking and guessing for information in total I felt like crying e.g what month do I use for the net asset figure the TWO options etc. In the end I have guessed at so much and tried to show my calculations but as I was ran out of time they were limited.

    Please if anyone is looking at this from the AAT please tell me what I should do know.

    I didn't have the luxury of the college pointing the error out I thought I was going through it all on my own.

    God help us if Thursday's PCR is the same
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I think I got that profit also my ROCE for Rent was approx 12% from memory and Purchases 8%. I therefore at that stage recommended Rent. WHat did everyone else get
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Hey I got the same profits, feel a bit better now I know someone got the same as me, I used Nov net assets but only added the ร‚ยฃ1mil stated to Purchased and only added the profit increase to come to the net assets. I read the question to mean you could pick which month you wanted to use as long as you specified, I specified I was using Novembers.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Life Cycle Costing is.....accumulation of all costs including pre-production cost.. :D

    Don't worry guys that was from the text book...I kind of said that in a way :?

    Must admit this paper was totaly different...I practised all of the exams from 2003.

    Did anyone take along time on the variances (material usage and labour effeciency?) I don't think the question paper helped.

    How did everyone do apart from the noise then?

    If it was a certain % to pass the exam i think i would of passed but on task 1.2 i missed a and b but did c.

    Does anyone know if I would fail that section due to this...i think i got all or most of task 1.1 corerct. Its bothering me because I want to start ACCA in January but don't want to start the course and finding out in February that I failed therefore cannot get exempt from level 1 and take the exam in June

    Happy days! :)
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I recommeded rent to on the ROCE basis and stated that with purchasing the machine, the ROCE fell below the original figure calculated in 2.1 of approx 10%
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Well i dropped a right b*****. In section 1 for the labour efficiency varience i did budget - actual. im gutted
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    by the way people, I'm Kay (incase the name didn't give it away) I have never posted before I just nosey at other peoples, hehe. But today felt I had too. So hello everyone!!!
    For 1.1b vi vii & viii did anyone get 4200F 210A and 4410F? This is the only bit I think I might have failed on.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Thank God you got the same.

    What did everyone get for the first question? The standard cost of actual production. I got 588,000 I think-something like that anyway!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!
    bailey7 wrote:
    I think I got that profit also my ROCE for Rent was approx 12% from memory and Purchases 8%. I therefore at that stage recommended Rent. WHat did everyone else get
    If by 8% you mean 7.99% then I think I got that too.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I got that for the overhead variances too!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Well I'm not confident with this but I put 210A for volume variance but struggled to do the efficiency and capacity which I got the answers you have. However when doing my reconciliation from total standard cost to actual it reconciled using the 210A? Anyone else got this answer
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!
    lou2985 wrote:
    Thank God you got the same.

    What did everyone get for the first question? The standard cost of actual production. I got 588,000 I think-something like that anyway!
    Sounds right.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    thats what i got
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    By the way thanks to everyone who said linear regression may pop up!!! I flicked through the paper in the reading time and was pleased to see it on 1.2!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Hi Kay,

    Just to let you know that we are not meant to be giving out our answers as the students who are taking it in the carabean for instance dont take there exams until aprox 5pm so they can pick up on what to read before they start the exam.

    But you should be fine if you managed to = volume to eff and cap.

    Well done! :D
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Hi everyone

    I'm new too, like Kay, and wanted to talk about the exam cos i'm soo unimpressed!! Revised so hard and thought i was ready for anything but that question really bugged me.

    I also recommending renting cos ROCE was higher. Used Novembers figures and said i wasnt going to depreciate existing fixed assets further because it did not state that i was doing a profit and loss A.C and asset calculation for the following month, simply for "a month". I cannot see how they could penalise me for this when its their fault for not making the question clear.

    I had revised life cycle costing a bit so i knew a bit, but when it came to calculating it, I had no clue what to do with regard to depreciation. I took the value of the machine that it told us to use for the balance sheet (1 million) and subtracted the scrap value of 900,000 to give me total depreciation of 100,000 and used this as one of my costs. Did anyone else do this?

    Oh and Kay, i think i got those figures for overhead variances and i did check that everything balanced by doing a little reconciliation so i reckon they're right!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    you didn't have to do a reconciliation right??? Hope I aint missed a question there!!! Excuse me talking in slang, I'm used to txt talk with my mates. Hehe.
    Don't want to get a telling off for putting my answers just yet, so I'll post my answers for 2.3 later. Will the person who wrote this paper have also wrote DFS and PCR.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!
    lushlady wrote:
    Oh and Kay, i think i got those figures for overhead variances and i did check that everything balanced by doing a little reconciliation so i reckon they're right!
    I'm not sure if I got my overhead variances right, but did a reconcilation and they balanced (although I may have fudged one answer). Did the STD cost for MAT and LAB plus BUD overheads - Price, usage, rate, efficieny and overhead exp and that reconciled.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!
    ***Kay*** wrote:
    you didn't have to do a reconciliation right??? Hope I aint missed a question there!!! Excuse me talking in slang, I'm used to txt talk with my mates. Hehe.
    Don't want to get a telling off for putting my answers just yet, so I'll post my answers for 2.3 later. Will the person who wrote this paper have also wrote DFS and PCR.
    No, I did it to double check the figures (and the work backwards to get one).
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    lushlady - I don't think you'd need to include anything about depreciated the fixed assets further because these will have already been depreciation in the figure given. The only thing I depreciatied was the new machine in the purchased p&l
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    haha its ok Kay. No you didnt have to do a reconcilation. I just did one in the corner in my working to check my variances were right.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I didn't think I had time, hehe, I didn't check I just kept writing, I was out by 11 though. I thought I'd well and truly messed my fixed o/head vol, eff and cap up, but now feel a bit more confident. There was only another 2 people sitting it with me at my college.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    and btw if it's true that the people in the carribean take it much later than us I say we all move!!!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    hiya, this is first time for me on here too, i got them variances for that bit too, i used ร‚ยฃ3 as the OAR, i changed it twice up opped for that in the end, i thought the whole paper was horried.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I'm glad i'm not the only one that thought there were errors on the paper, i was starting to think i had lost the plot.

Categories

Privacy Policy