How do we think PEV went?
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I am now, I just like to give it 3 mins encase people reply as i feel like i'm being rude then!!! Bye Bye hehehe xx0
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oh i know what coming for DFS ....... EVERYTHING LOL ...
KIDDING ;i don't know but revise all as usual0 -
Ok, bye bye spk to you all Wed!!! x0
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Lee Manning wrote: »Section 2.2 I thought you had to add your costs together as if you producing the turbine at a per turnbine basis ie 2.2 a1 was £800 (£300 for materials £200 for labour and £300 for production overheads) 2.2a2 I put £1,050,000/10000 units = £105 per unit unavoidable. 2.2a3 £1,950,000/10000units = £195 avoidable costs. in the report I just compared the £800 per unit being produced inhouse to the £745 per unit on a contracted out basis. (640 for turbine and £105 unavoidable costs) so it made sense to contract out 10,000 units, when I compared 140000 units I found it the other way round
It looks like we all found the same part hard - I have no idea what I did now - I am amazed when people can remember exactly what they did when they came out - I always forget about it asap!! I think I did something along the lines of the price from contractor plus unaviodable cost. then for in house something like total cost per unit less avoidable costs. God knows though!!
The thing is though I am NOT going to worry, becuase even if the calculation was wrong, so long as the report argued the point correctly on your answers, you get points for it!!0 -
I had some real trouble with the variances, I couldnt work out which figures to use for the fixed overhead volume variance. I did the reconciliation and filled in the answer in with the difference I had between the standard cost for actual production and the actual cost for actual production and the variances I had already calculated, I tried at least three times to work this out and in end had to use this figure so I had an answer in there. When I look back I think I calculated one of the other varicances wrong but cant work out how. I also had some trouble on task 2.2 I dont remember seeing this sort of question on a past paper but attempted it and reading previous posts think I got the same sort of answer, which makes me feel a little bit more confident about it. I think my major downfall was the report writing.0
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hey how u all did task 2.2??????
its too confusin:crying:0 -
Princess246 - keep your PMA going - you DO NOT know you have failed. If everyone has done badly on section 2 they will lower the pass rate for that section!! Do not worry about it now until August!! Easier said than done - i know!!0
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Yeah my report writing is quite poor too, just babble on about some stuff, probably things that are not even relevant !!!0
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Just remember everyone none of us need 100% to pass.
Sure you have all done better than you think nand what will be will be :001_smile:0 -
oh just remembered that in my ratios i calculated the material and labour per unit wrong, i got it in pence.... hopefully they wont penelise me too much for leaving off a couple of zero's??!!0
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Am I the only donut who calculated the target cost by 25/130 X 100 to give target cost of 19.23? I am so baffled after leaving the exam I don't know if I'm right, wrong or sideways....I waffled my way through all the reports battled through all the figures and had NO time to check anything at the end. Hope the pass mark will reflect the hugely confusing questions...Did a PCR paper this afternoon which caused more depression..why do they change everything? think I'll have a glass of wine and try to chill.0
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PEV exam this morning
I felt like..... my head was exploding too!!!!!!!!!!! , Yes! That’s pretty much how I felt this morning in the exam room. “HO WELL” what can I do about it except re-sit the PEV exam yet; again in December 2008 and it will be my fourth attempts.
I welcome any commitments from anyone who can help me to overcome my panic attack when I sit for my PEV exam!
I went through all past exam papers and I have practised on it over and over, I felt that I have the confidence and is already for the PEV exam this time. Unfortunately, my performance this morning is failed me miserably!0 -
Am I the only donut who calculated the target cost by 25/130 X 100 to give target cost of 19.23? I am so baffled after leaving the exam I don't know if I'm right, wrong or sideways....I waffled my way through all the reports battled through all the figures and had NO time to check anything at the end. Hope the pass mark will reflect the hugely confusing questions...Did a PCR paper this afternoon which caused more depression..why do they change everything? think I'll have a glass of wine and try to chill.
I did exactly the same as you. Target cost of 19.23. Im not sure if this is right or not though?:001_unsure:0 -
Hi Kitty
Im sure you did fine, infact I bet we all did, its natural for us to have all come out being convinced we have failed!
By the sounds of it the majority of us struggled with section 2, so lets hope the examiners give a bit of leeway!!0 -
Abandon All HOPE ...............
I don't know what went wrong today. I too have spent large chunks of time wading through the past papers, the text book, practice assignments etc and then complete lost the plot today........
Section 1
Variances - not too bad, reconcilliation not too bad.
The cost card - I think I ended up with £800 per unit ??
The formula thing - OK
Section 2
The ratios - OK (ish) but the finance and gearing was a complete memory blank ....
But question 2.1/2.2 - have completely and I mean completely messed up.
The thing is if you don' revise you don't expect to pass. But if you do revise and for a fair amount of time then you have a small glimmer of hope that you will stand a fighting chance.
I feel so miserable :crying: How could it have gone so spectacularly belly up. I am now so panic stricken with the whole process and I am worried it will run into the DFS and PCR.
Does anyone have any idea how much you can actually get wrong???0 -
Defo fail - Section 2 was a *****!!!:confused1::confused1::confused1:0
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OMG - just when you get close to the end of the paper - everything's going well - we get hit with question 2.2!! I'm glad everyone else had problems with that!! After trying to get my head round what was avoidable and unavoidable - I still couldn't figure out if what I did was right and nobody I've spoken to can honestly say they got it right either!
Also - that gearing and interest ratio took me by surprise - I don't think I've seen it asked in any of the past papers and it's not mentioned in the BPP text book either which is what I revised from. I know it's covered in the unit criteria but still - wasn't expecting it - completely forgot how to do em as well!
All have to wait til August I suppose! - Good luck!
Did anyone else find there wasn't enough time to check your work after battling your way through section 2? I'm a bit worried now that I didn't check everything else on the paper - could have mucked up the whole thing!0 -
What did every one put for the gearing ratio question?0
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Ha - messed that one up I think - I ended up putting long term debts / share capital but I think you're supposed to divide by Net assets & Share Cap??0
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Overall I didn't feel that as confident as with previous papers, but on the upside I did answer everything, even if I did have to make up the gearing ratio. Oh and thanks to whoever had posted the interest cover on here. I just happened to check the forums this morning and made a note of that and it just happened to come up! I would have been totally clueless otherwise!
Got myself a bit confused in section one with the labour efficiency - which was a really stupid thing to do, but I got my rec to balance.
Section 2....wasn't too bad, but have no idea how I did. I did get a bit confused with it came to the recommendations as it seemed pretty obvious to recommend contracting out for 10000 and 14000 turbines. (I was also impressed how I managed to waffle through the 3 things that the company should take into consideration). When working out the figures for 14000 turbines, I didn't get a round figure which I thought was a bit strange.
So overall, it could've been worse, least I answered everything. But I could fail, depends on how lenient they are. Was a bit unsure about the production cost card too - I think the amount of information we were given confused me! And my cost per unit had pence, which didn't inspire confidence lol!
I really hope I don't have to resit - don't want to have to do 2 (or more) exams in the next sitting!this is what i got for 2.2
10,000 units
£800
£105
£195
14,000 units
£714.29
£75
£77.87
Unsure about the last two figures but I got £800, £105, £195 & £714.29 too! And I think I may have put £21170 for the cost card as well...can't remember!
mi|kshake~0 -
gearing = longtermdebt/long term debt + shareholders equity
Interest Ratio = Operating profit/interest payable
The only reason i know these is because i am sitting DFS wednesday otherwise i would be completely stumped!!!!0 -
i used for gearing LTL/Capital Employed was that wrong? :confused1:0
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well im stuffed, didt know the gearing or interest ratio i just guessed it and dont think it was those, so sure i failed section 2 ! never mind ! guess i could be doing it again !!0
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Section 1 was a gift, very annoyingly as I'd spent 70% revision time on standard costing. Rather have had a nice basic sec 2. I really hate the 'wordy questions' in these exams though.
What kind of things did people suggest as other things to consider re: the turbine deal?
I rabbited on about the instability of the transport costs (included in unit price) due to oil price fluctuations. Whether the labour hours saved would be allocated to other tasks or people would be laid off, harming staff relations. I also mentioned whether the Romanian contractors' quality control would measure up to inhouse ones and if they could be depended on to fulfil orders in time. Said a bit about exchange rates too.
Complete waffle. I hate these types of questions i just hope i interpreted it right.
For the record i calculated gearing at about mid 1's for both scenarios and interest cover at about 4.5 and 3.5 for scen 1 and 2 respectively.
I got £800 unit cost 10k units
1050000/10000 = 105 unavoidable costs per unit.
+ 650 = 755 cost per unit
1950000/10000 = 195 avoidable costs costs per unit
I recommended contracting at 10k but inhouse at 14k.0 -
Well - I agree with the fact that there was a lot of information to take in and not much time to do it all in - so many different things happening - very confusing.
I just hope they're nice to us when marking otherwise they'll prob be quite a few of us redoing unit 8 in December!:crying:0 -
Sonny i did the same as you in section 2, i waffled on about fuel costs ans staff morale !! guess we shall have to wait now, need a drink tonight !! think we all deserve it !0
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Hey - take it easy - I mean what's done is done rite?
I think you can gather quite a few marks for getting the formula right for example - even if you get all the figures wrong and the memos - if you got the layout right - I'm sure you get a few marks and so on - so unless you've done absoloutely every question wrong - there's still a chance!!
Keep your head held high and concentrate and the other exams to come! But I know what you mean - you revise loads and loads and you think you're ready and then you get a question that wouldn't have been anything you could have revised anyway - oh well - can't wait to get PCR out that way and then forget about it til August!0 -
Also unsure about my reports - did a lot of waffling!What kind of things did people suggest as other things to consider re: the turbine deal?
I was surprised I could think of anything for this! I put:
Time to transport
Is material romanian company using good quality
Staff morale
mi|kshake~0 -
Glad people are putting similar stuff to me. As i left the hall i thought 'what if they wanted me to relate it to the p&l account?'
What about the question about gearing/interest cover?
I said the gearing seemed high at first glance which may be a concern as high gearing meant high interest rates and possible difficulty in obtaining further finance. Then went on to explain that this was less of an issue because the interest cover is good in both scenarios suggesting the capital had been soundly invested.
Almost made a cock up on the cost per units too, forgetting that the columns were in £000, wasn't till it hit me that you don't really get 80p wind turbines lol0
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