PEV Exam - what did you think?

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  • jamieh87
    jamieh87 Registered Posts: 21 New contributor 🐸
    net assets? was it jus the return on net assets percentage tht u worked out when you has worked out your gross and operating profit again? im guessing you might have to have adjusted your net assets by the profit change which i completly forgot about if we did, bummer.
  • lork
    lork Registered Posts: 97 Regular contributor ⭐
    I didn't have a clue on question 2.3 and just threw down a load of numbers, not even attempting b) and c). My head hurt too much by then.

    I am reasonably confident on the rest of the paper, though, so hope the last question didn't carry too many marks. I would agree that (apart from the last question) the paper seemed easier than past papers I've looked at.
  • lork
    lork Registered Posts: 97 Regular contributor ⭐
    pink wrote: »
    What did people get for their net asset in 2.2?
    Something in the region of £1.9m. I took out the old net profit figure and replaced it with the new one.
  • Tracy Keeley
    Tracy Keeley Registered Posts: 29 Regular contributor ⭐
    Hi

    I got two £0 variances too. I thought i had made a mistake as I had not seen that in past papers, but there is a first time for everything. I checked and checked again hope we are both right !

    Tracy
  • martyn
    martyn Registered Posts: 10 New contributor 🐸
    I got two nil variances as well.

    In the question about explaing the variances to the trainee, the nil variances balanced to the total variances.

    Does anyone know what date in feb it is?

    Mart
  • jamieh87
    jamieh87 Registered Posts: 21 New contributor 🐸
    yea i got two nil variances, wudnt balance when tried to reconcile but didnt have to, and checked my workings and they looked right so may have just been one of those exam moments.

    paper was pretty straight fwd until the end part of section 2 which was just a nightmare, went to see me lecturer after and he reckons that av managed to blag it somehow though
  • lork
    lork Registered Posts: 97 Regular contributor ⭐
    martyn wrote: »
    I got two nil variances as well.

    In the question about explaing the variances to the trainee, the nil variances balanced to the total variances.

    Does anyone know what date in feb it is?

    Mart
    It's the 17th/18th of Feb. I want my results now!
  • Tracy Keeley
    Tracy Keeley Registered Posts: 29 Regular contributor ⭐
    PEV Section 2

    I really struggled with the last page on section 2. I honestly don't think that I have covered discounting factors. I mentioned this to the person monitering the exams (can't remember what you call them) he let me make a note of it and he is going to pass it on the the AAT.

    Has any one else covered Discounting Factors ?

    I just ignored that part and did the calculations on labour saving without that, I stilll recommended that we should invest, as the labour savings more than covered the cost of the machine. Is that ok, maybe I will still get some marks !!
  • martyn
    martyn Registered Posts: 10 New contributor 🐸
    Ah, cheers Lork!

    Gotta get through Thursday though first (PCR) :(
  • andrewtdk
    andrewtdk Registered Posts: 150 Dedicated contributor 🦉
    I cant remember if we did discounting factors this year or in intermediate. I think it was a discounting factor of 5% so i put the purchase in year 0 so didnt discount it, then the rest i put 30000 each year exept for the last where i took off the 50000 so just worked out the discount on (20000).

    On the next one i got a saving of 105000 each year over the 5 years. Dont know if this is correct but i suppose it was one question
  • King of the Mountains
    King of the Mountains Registered Posts: 66 Regular contributor ⭐
    Yeh. it's in unit 6!! I think it was mean to put that in, right peeved. It wouldn't have mattered how long I revised, I still wouldn't have gone over that.
  • jamieh87
    jamieh87 Registered Posts: 21 New contributor 🐸
    i put the purchase price through as full year 0, then discounted the 30,000 each year at the relevant discount factor, ie 0.982 etc. less the residual value at the end undiscounted. and then there was 3hour saving per unit 15000 hours per year which i also discounted.
  • King of the Mountains
    King of the Mountains Registered Posts: 66 Regular contributor ⭐
    jamiej87, I think you are right. I did similar but discounted the puchase price too! Doh!
  • pink
    pink Registered Posts: 35 Regular contributor ⭐
    lork wrote: »
    Something in the region of £1.9m. I took out the old net profit figure and replaced it with the new one.

    I think i got something like that roughly, cant remember what the Net assets were before but I subtracted the old Op profit and replaced it with my new Op profit that I had worked out
  • purelimituk
    purelimituk Registered Posts: 6 New contributor 🐸
    Damn!!!!! I worked so hard on this exam and I was confidence that I will sail through the exam without any hurdle. But the section 2.3 really knocked me over.
    Also reading through this thread I have realised I have messed up on the variance section. The variance question about how does the variance effect P&L account. As for this question I just briefly explained about adverse and favourable. I could shoot myself!!! Looks like a resist in June!! AAAArrgghhh
    :mad2:
  • jamieh87
    jamieh87 Registered Posts: 21 New contributor 🐸
    Damn!!!!! I worked so hard on this exam and I was confidence that I will sail through the exam without any hurdle. But the section 2.3 really knocked me over.
    Also reading through this thread I have realised I have messed up on the variance section. The variance question about how does the variance effect P&L account. As for this question I just briefly explained about adverse and favourable. I could shoot myself!!! Looks like a resist in June!! AAAArrgghhh
    :mad2:

    thats all it asked for, wot i did nyway
  • Ola
    Ola Registered Posts: 4 New contributor 🐸
    On the question where you had to show the total material variance split into price and usage for the student mine didn't balance?!!! was it supposed to? Did anyone else have trouble with this?
  • Corado
    Corado Registered Posts: 7 New contributor 🐸
    Polymer xx wrote: »
    Do you reckon Sandy will do the answers?

    Who is this Sandy and when will he/she do the answers? Has she/he done this before?
  • lork
    lork Registered Posts: 97 Regular contributor ⭐
    Sandy is a tutor who posts on the forum. He has asked for proof readers for this exam (there's a thread somewhere on this forum) so I believe he will make his answers available at some point.
  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034 mod
    Sandy
    sandy@sandyhood.com
    www.sandyhood.com
  • mahdi87
    mahdi87 Registered Posts: 121 Dedicated contributor 🦉
    hi guys dnt any1 think that they made mistake in the trend questions as they said the price was 12 i think it should of been 11.90 (given)
  • lork
    lork Registered Posts: 97 Regular contributor ⭐
    Yes, I noticed that too. It certainly fills you with confidence when you spot an error, doesn't it?!
  • purelimituk
    purelimituk Registered Posts: 6 New contributor 🐸
    cheers ro reply to my message. I hope we have got it right mate. fingers crossed!
  • purelimituk
    purelimituk Registered Posts: 6 New contributor 🐸
    Ola wrote: »
    On the question where you had to show the total material variance split into price and usage for the student mine didn't balance?!!! was it supposed to? Did anyone else have trouble with this?

    I don’t think we had to reconcile the variances as there was no question based on net operating factor. Anyway, it couldn't balance as it didn’t ask for variances on paint.

    However, we had to work out variance on paint but that was later part of the exam.
  • Ola
    Ola Registered Posts: 4 New contributor 🐸
    Thanks for reply x
  • firetrap
    firetrap Registered Posts: 4 New contributor 🐸
    Damn!!!!! I worked so hard on this exam and I was confidence that I will sail through the exam without any hurdle. But the section 2.3 really knocked me over.
    Also reading through this thread I have realised I have messed up on the variance section. The variance question about how does the variance effect P&L account. As for this question I just briefly explained about adverse and favourable. I could shoot myself!!! Looks like a resist in June!! AAAArrgghhh
    :mad2:

    The paper was pretty standard, a lot or writing, however the final task -I've studied hard for this exam, covering everything, why on earth have they included unit 6 costing? I've spoken to other people in my class and they feel the same. Discounting isnt even in the textbook for this unit, we havent covered it in class and now I'm very worried that not passing the final task will fail me on that section. :thumbdown: bad choice AAT.
  • Tracie
    Tracie Registered Posts: 25 Regular contributor ⭐
    PEV Section

    Can anyone remember what they got for thier performance indicators?

    I got the following:

    56.33% 60.33%
    23% 20.33%
    £60.00
    £14.00 £35.00
    £13.33 £24.00
    20.56% 16.01%
    41 days 73 days

    I wrote it down on scrap paper!!?:
  • NBB
    NBB Registered Posts: 125 Dedicated contributor 🦉
    Tracie wrote: »
    Can anyone remember what they got for thier performance indicators?

    I got the following:

    56.33% 60.33%
    23% 20.33%
    £60.00
    £14.00 £35.00
    £13.33 £24.00
    20.56% 16.01%
    41 days 73 days

    I wrote it down on scrap paper!!?:

    Tracie, I gpt the same as you!!!!!
  • confused!!
    confused!! Registered Posts: 130 Dedicated contributor 🦉
    Tracie wrote: »
    Can anyone remember what they got for thier performance indicators?

    I got the following:

    56.33% 60.33%
    23% 20.33%
    £60.00
    £14.00 £35.00
    £13.33 £24.00
    20.56% 16.01%
    41 days 73 days

    I wrote it down on scrap paper!!?:

    Im not sure the last one rings a bell - was it stock/COSX365?
  • Tracie
    Tracie Registered Posts: 25 Regular contributor ⭐
    I reconciled them as follows:

    TotalVarriance 0.5X2100X£25 = £26250 - £29900(actual) £3650A
    Price 1150 x (26 - 25) = 1150A
    Usage (1150 - 1050) x £25 = 2500A

    Don't know if this is right or not just made it up??
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