Pev & Pcr
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welshboy
Registered Posts: 82 Regular contributor ⭐
Is it just me or is anybody else really hating revising for PEV & PCR.
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Thankyou Paul,
I think I will be okay it's just that I don't do much costing within my role so this is taking me time to understand the fundamental grounding of each part.
I think this is just a subject you need to keep doing and breaking the paper down into each part to understand.
Thankyou for the offer just feeling a bit frustrated by it all at the moment as these are my final exams.
Many Thanks
Matt0 -
i feel the same at the moment. i am still going from my books, i have not even started doing past papers yet.
just over a month and i think i might have to start panicking.
there just seems to be loads to remember and where to use it.
Tracy0 -
I am the same Tracey.
I have read the book twice now pev is starting to sink in yet PCR seems to be so much to explain and lots more written answers within the exam papers.
5 weeks to go including this week and the stress is starting to build up.
Im sure we will all be okay.0 -
I am the same Tracey.
I have read the book twice now pev is starting to sink in yet PCR seems to be so much to explain and lots more written answers within the exam papers.
5 weeks to go including this week and the stress is starting to build up.
Im sure we will all be okay.
Well good luck, but any queries between now and the exam, post on here, or pm me.
Paul0 -
i am feeling really low about it all
im the same really, nothing seems to be going in, i was pregnant through most of this year and i cant seem to find any information in my head
none of this is in my normal work so its all a bit alien to me, today after trying a passed paper with what i though i understood i couldnt do it.
the main area of concern is absorbed things i just dont get it.
can anyone cheer me up and point me in the right direction, i was all for giving it in earlier but i feel like i have come so far
thanks
vicki0 -
OAR = Budgeted Fixed Costs / Budgeted Activity
What specifically are you stuck on, I could write reams on here, but I dont know what you dont know :-)0 -
i do costing as part of my job but it is the fixed overhead variance formulas that get me.0
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OAR = Budgeted Fixed Costs / Budgeted Activity
What specifically are you stuck on, I could write reams on here, but I dont know what you dont know :-)
i have got this table to try and help..
S tandard 1 Efficiency variance
A bsorbed 1 efficiency variance 2 capacity variance
B ugeted 2 capacity variance 3 exp variance
A ctual 3 exp variance
ok so i put the budgeted and actual figs in later enabling me to work out the variances ( as shown) but i dont get how to work out the absorbed figs and im still stuggling with the standard ones too
i tried using my table for the 2008 exam and really came unstuck
vicki0 -
hi do you have that in excel that you could send to me or could you explain it a bit better for me.
Thanks
Tracy0 -
Me too!
Me too, I'm really panicing about these 2 exams, thought the BTC would be the hardest but that was easy compared to these! Have now just started doing past papers and realised how little I still know
( 0 -
That is about as clear as mud to me.gingervicki wrote: »i have got this table to try and help..
S tandard 1 Efficiency variance
A bsorbed 1 efficiency variance 2 capacity variance
B ugeted 2 capacity variance 3 exp variance
A ctual 3 exp variance
ok so i put the budgeted and actual figs in later enabling me to work out the variances ( as shown) but i dont get how to work out the absorbed figs and im still stuggling with the standard ones too
i tried using my table for the 2008 exam and really came unstuck
vicki0 -
Ditto, one minute I think I have the first section of PEV, then I do another past exam and it means NOTHING.
I get the lay out cant always be the same as that wouldnt happen in real life, just give us a clue!
When it says stuff like: standand usage of materials for actual production I'm stuck.
I GET it means get the single price of the bugeted kgs and times it by the actual price, but EACH time I somehow get it wrong! I'm starting to REALLY panic now!!0 -
Std use for actual production is how much you SHOULD have used to yield the ACTUAL output.
Example
Component X requires 25kg of raw material
Actual production was 1000 units using 26000kg of raw material
The standard useage for actual production would be (25kg * 1000) 25000kg
The 1000kgs extra used to yield the required qty of components would therefore be multiplied by the Std Cost per kg, to show an adverse material useage variance (you used more than you should have according to the standard)0 -
See Paul, that's the thing (EXCELLENT example by the way) I GET it, I just cant DO it correct everytime!0
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All I can reccommend it question practice again and again.
Paul0 -
ill put it on a sheet and you should be able to see what i mean, its so easy to use too!!
vicki0 -
PM me your addy and ill send it to you, had to do it on paint as i cant find my excel, my pc is playing up.
vicki0 -
I can get the concept of the material and labour variances and even work them out and understand them it is the fixed overhead ones that cause me problems.0
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i am really strugling with absorption - i think i am in my head making it far harder than it actually is.
i can do some of the variances, but when you look at the answers they have it laid out differently.
in my bpp text is shows
should have cost xxx
did cost xxx
but in the answers it just gives the figures
xx.xx / xx.xx = xx.xx
which way is best? i am thinking more is better as even if the answer is wrong you might get the markrs for the correct workings?
what do others think?
tracy0 -
I have been doing the past papers with laying out everything in the answers as I am pretty sure I am going to screw up Fixed Overheads. As in:
material usage variance:-
(actual quantity -standard quantity) x Standard price
then inserting the workings and giving the answer.0 -
i have learned this too if it helps
(P)rice variances are based on
(A)ctual costs
(U)sage variances are based on
(S)tandard prices0 -
I think these exams are just a case or practice practice practice the more that you do sinks in so just keep practicing guys! and Good luck:thumbup:0
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what gets me is just those last 3 !
fixed cap var
fixed vol var
fixed eff var ?
just wish i had them 3 nailed and think the rest is already there !0 -
Join the club, have you looked at the post Sandy Hood put up for me when he explains them?mark130273 wrote: »what gets me is just those last 3 !
fixed cap var
fixed vol var
fixed eff var ?
just wish i had them 3 nailed and think the rest is already there !0 -
I am baffled by last years variances they just seem a lot longer than previous exams??
Is it just me as these are driving me insane!
:thumbdown:0 -
Pev & pcr
Oh what a nightmare trying to do both of these exams, I think I have mastered one and then I forget the other.
It driving me crazy:confused1:
Hows everyone else doing!!!!!!!!!!0 -
Yea I'm in same boat as most of you guys except i'm only stuck on the written parts of the questions.
For the fixed overhead variance I was tough this way
Fixed overhead expenditure
Budgeted overheads - Actual overheads
Fixed overhead volume variance
Standard hours
less budgeted hours
=volume variance x OAR
I remember this by - Silly Bloody Variance
Hence the S in silly = Standard hours, B in Bloody = Budgeted hours and V in Variance = Volume
Fixed overhead Capacity variance
Actual hours
less Budgeted hours
=Capacity variance x OAR
I remember this by ABC A for Actual Hours B for Budgeted hours and C for capacity varience
Fixed Overhead Efficiency Variance
Standard hours
less actual hours
=Efficiency Variance x OAR
I remember this by Stamped Address Envelope
Hence S in stamped = Standard hours A in Address = Actual hours and E in Envelope = Efficiency Varience
I hope this helps some of you
Regards
Gentle Jesus0
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