PEV Todays Exam!!!

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

    It was section 2 i struggled with. Particularly the P&L and Net Asset re-calcs. Im hoping the main section 2 marks available were on question 1 section 2 as we had to calculate each of the ratios 3 times! What does anyone else think about the marks weighting for each question on section 2??
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I never even thought to include depreciation, or long-term liabibilities. Also spent about 20 mins looking for the additional info on page 6. Kept thinking it might of been a typo, but still looked just in case. Was feeling quietly confident now, not so sure. Roll on the end of the week, when it's all over. :shock: Did get the same std costs for actual as you, so that's something at least.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Can someone split out the material, labour and overhead calcs for section 1 where we had to calculate the total standard cost for actual production? i think i used the wrong overheads figure. I used the total overheads absorbed into production, is this correct??
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    :cry: Thought I was okay until I read through the paper then went into blind panic, when went back to do variances completely went out my head.

    Threw me for the whole exam, Im sure I got a FAIL, feel gutted put so much hard work into it for nothing!

    Let God be kind for Thur's PCR, back to revision for me, tonight, tomorrow, wed if todays anything to go by! I HATE AAT!!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Hi
    :( I am new to the forum; often read peoples comments, but havent as yet written any comments. But after todays terrible Exam paper felt the need .....

    Section 2.... oh my god! confusing or wot! Not only have I now realised there were a couple of errors, which has annoyed me, but also didnt have any info on this from our tutor!! know in the books, but you'd think main place to learn is at our college!!And just to add to my bad experience... we had a fire during the exam at our college, so we were stood outside for 40mins!!!! of all the days...

    sorry for my first message being a grumpy one.... cheery next time!! :lol:
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Hi Mrs D, welcome!!! Sounds like you had a lot to deal with today! Will the AAT not take the fire distraction in account? Its worth a try. I found section 2 really difficult and think im borderline to pass this section :cry:
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    We were told the college would notify AAT with regards to fire, but I may send my own letter aswell! its hard, as dont normally attend this college so to complain about it seems harsh.... but at the end of the day, need to protect myself I guess..!!

    oh well xmas round the corner... time to celebrate!! :lol:

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!
    pele wrote:
    I used budget - actual instead of standard - actual. Did anybody else make this stupid error?

    I based my answer on Dec 2003 & Dec 2004 Section 1's question/answers. Hope the logic hasn't changed!

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

    Sounds like you really down about todays exam, dont think you are alone, me for one found the exam hard; done alot of work for it too, but 90% sure failed!!

    Try and calm back down, relax and tell yourself you will be fine and conquer this one!! Good Luck.... :D
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!
    ***Kay*** wrote:
    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. :?

    We werent tought that in lessons were we?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!
    lou2985 wrote:
    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!


    Hey no worries I got exact same answers as u...lol but I dunno if im right.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!
    Baggybooks wrote:
    pele wrote:
    I used budget - actual instead of standard - actual. Did anybody else make this stupid error?

    I based my answer on Dec 2003 & Dec 2004 Section 1's question/answers. Hope the logic hasn't changed!

    :wink:

    It hasn't its just on past papers we are usually asked, work out the standard hrs for actual production. we weren't on this so i used budgeted wothout thinking
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    What did you get for the prices (last question in section 1)?

    I completely messed it up.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

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

    Feel glad it just wasn't me that felt unimpressed with the paper. I had revised soo so hard for this, then to feel absolutely gutted at the end, Section 1 not so bad, but Section 2 what a nightmare!! Oh well lets hope Thursday PCR will be a lot better.

    Looks like a possibility of yet another resit in June for this one. sick and tired of resits when will I ever pass. Oh well I can only hope and pray feb will be different to what I am feeling right now.

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

    can anyone help on the question regarding Ideal standards. I think completly messed that one up
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Which prices, the ones for aviation fuel?

    I worked it out Dec 12x0.002+0.998=ร‚ยฃ1.022 and so on.

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

    Wow! I hope you're right!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I messed up - i worked it out differently :(:(:(:(
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I DID OK ON THE VARIANCES BIT FOR SECTION 1 (EVEN DID A REC, I WAS BEIN EXTRA!), BUT I KNOW I PROBABLY MESSED UP ON 1.2, THE FUEL PRICE THING, MY NUMBERS WERE 0.02 OR SOMETHING LIKE THAT, AND THEY DIDNT MAKE ANY SENSE, SO I JUST MADE UP A LOAD OF WAFFLE !
    AS FOR THE PAGE 6 / PAGE 8 ERROR, THAT HAS SO VEXED ME OFF. I SPENT ABOUT 15 MINUTES LOOKING ALL OVER PAGE 6, IN THE END I JUST WROTE IN RED PEN AND SAID I COULDN'T FIND NOTHING ON PAGE 6, AND THAT I WAS USING INFO FROM PAGE 8. I ALSO PUT THAT IT WAS BETTER TO PURCHASE THE EQUIPMENT,
    (DON'T ASK ME WHY. THE % THING SEEMED BETTER TO ME). OH WELL, I FELT OK AFTER THE EXAM, BUT NOW COMING AND LOOKING ON HERE, HAS PUT SERIOUS DOUBTS IN MY MIND !
    I HAVE NEVER COME ACROSS IDEAL STANDARD, BUT MY EXPLANATION WAS ALONG THE LINES OF IT. AS FOR LIFE CYCLE COSTING, WE BRIEFLY WENT OVER THIS IN OUR LAST LESSON BEFORE THE EXAM.
    GOOD LUCK EVERYONE
    I FELT ABOUT 80/20 CONFIDENT, NOW I FEEL ABOUT 60/40 ! ! !

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

    I think i did (0.002+0.998)x12 = 12 then divided it by something. I ended up with ร‚ยฃ1.11 foe december
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I hope I am right too, I didnt have a clue when I looked at the question, but they obviously got Nov price from the formulae, so I just played with the figures until I got Nov prive and changed my no of months for the next three.

    About the only thing that I could make sense of apart from the things I knew how to do.

    The first question threw me as it was set out different to the past papers I have been doing, ah well sod it, dont now nothing I can do to change it.

    Glass of wine well needed tonight.

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

    I used the following

    Dec 12x0.002+0.998 = ร‚ยฃ1.022
    Jan 13x0.002+0.998 = ร‚ยฃ1.024
    Feb 14x0.002+0.998 = ร‚ยฃ1.026

    They seemed to follow on nicely from the ร‚ยฃ1.020 in Novemeber, me hopes anyway, lol.

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

    That's exactly how I did it.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I did it that way too; but how did you go on for Jan and Feb?? Did you use same method, replacing the 12 with 1 (for january) or 13 continuing the sequence?? Which way did you calculate it as had a mixture of replies from my pals!!

    The trend I got was the 0.02 as a regular increase!! Hope that was right... else another question gone to pot!! :?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Ideal standards are targets set without taking idle time or wastage into account and staff are not very well motivated with this as they feel the target is impossible to achieve.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    I used 13 and 14 instead of 1 and 2
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    When I worked out the sequence and found Feb was 14 - I thought that was a good omen - or am I just being romantic?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:PEV Todays Exam!!!

    Thank god for that.... Thats how I done it too as the trend increased with regular amounts.... looked good anyway...

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

    Nice thought... :P

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