How was today's paper??

Re:How was today's paper??

Blimey you're keen aren't you? The exam doesn't finish for another 45 minutes.
I didn't like question 1.6 and question 2.2 I'm sure I've lost marks there. Hopefully I'll pick up half marks for workings out.

Re:How was today's paper??

I thought it was all ok apart from the margin of safety and break even bit and then the 3 questions after that that asked the significance of the percentage margin of safety.

Did anyone else get the same figures as me ?

At 1000 sales it was making a loss of £4.80 per unit
At 1200 sales it was making 0 profit or loss
At 1500 sales it was making a profit of £4.80

So for the break even, margin of safety and % mos for the first two i just put n/a :? Because you cant break even with the first two so you cant do the MOS either.

Also, to work out breakeven, it is fixed costs over contribution isnt it?

So for 1500 sales, i had (19000+9800)/4.8 = 6000 .. is that right?

Re:How was today's paper??

debbie hood wrote:

Went ok, well the ist half did, i always struggle on section 2, i couldnt answer the break even unit question, or make out the mos, just quessed, i know that it is wrong,also the question about limited machine hours, hve done this question loads of times b4, but this one was different. Couldnt work out how many machine hours 2 break down, its didnt tell u how many each product needed in the ist place.

So depending on the marking it can go either way for me, roll on FRA on wednesday.

It did, first one was 2 hours and second one was 5 hours if i recall correctly.

Re:How was today's paper??

:shock: Am I the only one who found it quite complicated?

I was expecting it to be like all the past papers but it was completely different.

The margin of safety question threw me, I got -17%, 0% and 25% :?

I'm sure it will be fine, it was just more complicated and technical than I thought it would be.

Gem

Re:How was today's paper??

Yes, I got exactly the same answers!
but thought it might be wrong as have never come across a margin of safety that is negative in past papers or in text books.

Re:How was today's paper??


I agree the margin of safety was never answered in any of the other exams like that and als task 2.5 was never asked like that either.a well not to worry its over now will wait till feb for results




John

Re:How was today's paper??

I am glad in one way that every thought that the mos question was hard, i just looked at it for ages and couldnt answer it, hope i dont fail just because of that.

At the end of day we all tryed our best, just will hve to wait for the results.

Re:How was today's paper??



results are due out on the 16th of feb

Re:How was today's paper??

I thought this paper was a lot harder than the previous papers! Even the first question seemed more complicated! Can't help feeling they were testing u on ur comprehension of the question rather than ur ability to actually do the stock cards.

Do you think this means the skills test will follow suit and be harder than previous ones?

Re:How was today's paper??

I got different calculations as well:

For 1000 Units, the Margin of Safety is (200)
Therefore (200) / 1000 (expected Sales) x 100 = (20)%

For 1200 Units the Margin of Safety is Zero
Therefore 0 / 1200 - 0 (expected Sales) x 100 = 0%

For 1500 Units the Margin of safety is 300

Therefore 300 / 1500 (expected sales) x 100 = 20%

Or have I got this wrong??

Re:How was today's paper??

jdelboy wrote:

results are due out on the 16th of feb

On the student link for having them emailed, it says they are issued on 20th. Don't know why it's a week later this year. You have to register if you want them emailed.

"These will be sent out on 20 February 2007.

You will receive an e-mail confirmation of this service. If you do not receive this e-mail within 24 hours, please call Student Services on +44 (0) 20 7415 7644.

Do not forget that you will also receive your exam results notification by post."

I've sent an email querying this.


Helen

Re:How was today's paper??

The results were on Valentines day last year, but I was expecting it to be the 20th this year due to the information on the link mentioned by Baggybooks.

Re:How was today's paper??

hi

Yeh i got exactly the same. Fixed costs remain the same for each level of output, and the variable cost per unit remains the same at each level of output seeing as variable costs increase proportionally with ouput. Therefore the breakeven level of units must be the same for each level of output, but the margin of safety will differ seeing as your comparing the same break even units to different levels of production. If this aint right I aint got a bloody clue!

Re:How was today's paper??

I got -17%, 0% and 25% because I did margin of safety/breakeven because that's how they did it in one of the past papers. I thought it should be margin of safety/sales volume but I got this wrong in the past paper and found they'd used the breakeven so I did it that way :shock:

Re:How was today's paper??

Resbie wrote:

The question that threw me was the one where there wanted you to calculate the cost per litre of output. My mind went blank and couldn't decide between 10 or 11 pounds. I eventually (!!) stuck with 11

Did anyone else get the same?

Yeah, the answer is 11. You could get it one of two ways

Cost/unit= £12,000 - (200x£5)
______________1,000

=£11

or by balancing the T account to get £11,000 as your total cost for output, then dividing it by 1,000 units to get the cost per unit (£11).

As for the margin of safety question, I don't think it's possible to have a negative margin of safety, as margin of safety is defined as "the amount by which sales exceed the break even point"(Osborne), so when the budget is 1,000 units, there is no margin of safety as this doesn't exceed break even.