PEV - Dec 2008 - Task 2.1

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tauq786x
tauq786x Registered Posts: 35 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
Ive just done paper December 2008 PEV

in section 2 all my ratios were right except stock trnover
i been taught from the BPP book that the stock turnover (indays) ratio is stock/COS X 365

i done this in the question yet my answers were wrong :S

any ideas?

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  • gingervicki
    gingervicki Registered Posts: 87 Regular contributor ⭐
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    and mine, can anyone help as im now really confused.

    then i work it back it appears im looking for a figure of about 87000 for the sp2000 ? ? ?


    eeeewww not feeling so good now :crying::thumbdown::crying:
  • ckane4
    ckane4 Registered Posts: 14 New contributor 🐸
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    I had exactly the same problem yesterday: I got SP2000 28 days and SP3000 37 days. I checked AAT model answers and they (very UNhelpfully) haven't got any workings against their answer nor have they mentioned students getting the question wrong in the Chief Assessors Report - very strange!

    Wonder if its another one of their delightful mistakes?!!!!!!!
  • gingervicki
    gingervicki Registered Posts: 87 Regular contributor ⭐
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    i feel a little better knowing im not on my own with this but i agree, very unhelpful with not showing any workings!!! GRRRRRR!!!!
  • ckane4
    ckane4 Registered Posts: 14 New contributor 🐸
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    Especially when they constantly stress how important it is to show them eh?!!!!

    Never mind, I am going to continue to use the same formula if it comes up in Monday's exam and just keep my fingers crossed!!!!!

    Good luck!
  • renae
    renae Registered Posts: 76 Regular contributor ⭐
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    Hi,
    The question asks for raw material stock turnover instead of 'stock turnover', so I used closing stock / direct materials x 365, ie
    sp2000
    60,000/540,000 x 365 = 40.56 days

    This was a complete random on my part by the way, but the answer matched!
  • joerd84
    joerd84 Registered Posts: 56 Regular contributor ⭐
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    i think there's a few of the past exam papers that try and catch you out like this. Just watch incase it says the stock is based on materials or not.
  • ckane4
    ckane4 Registered Posts: 14 New contributor 🐸
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    Would never have got that!!! Lol, thanks very much although think I preferred to blame an AAT typo - another one to learn now!!!!!)
  • gingervicki
    gingervicki Registered Posts: 87 Regular contributor ⭐
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    i completely see it now, its a little bugger that one!!!

    thanks alot

    v :001_smile:
  • renae
    renae Registered Posts: 76 Regular contributor ⭐
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    same paper but task 2.3, I have never done discounted life cycle so am self teaching myself today...oh the fun.
    But I don't understand why the running price reduces from 30k in yrs 1-4 to -20k in yr 5? Sure there is a simple reason.....but I just don't get it??
  • joerd84
    joerd84 Registered Posts: 56 Regular contributor ⭐
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    i think it's because there's a 50000 residual value, whatever that means. I just took that from the 30000 and got the -20000 from that
  • renae
    renae Registered Posts: 76 Regular contributor ⭐
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    :thumbup: works for me, thanks
  • ckane4
    ckane4 Registered Posts: 14 New contributor 🐸
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    That one is to do with the residual value of £50k. Hope I explain this ok but the total running costs over the 5 year period should be £150k, you need to adjust for the residual value of £50k so you are looking to spread the remaining £100k across the five years, and (I think) you always need to make the final adjustment in the last period so when you add the 4x£30k, you are "over" by £20k. If there was a residual value of nil Year 5 would should another £30k expenditure.

    Hope that makes sense, only taught myself it yesterday too so hope the same rules apply to all questions as this is the only one I've come across!!!!
  • Nicolaw1702
    Nicolaw1702 Registered Posts: 64 Regular contributor ⭐
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    I sat the PEV in Dec 2008, never done lifecycle costing either so I looked at the question and just didnt attempt it!! Bad on my part but it was the end of the paper and I passed!!

    I agree with all of the above where AAT do not show their working in the model answers. I am revising PCR now and you have to sit there for ages trying to work how where they got the answer from!! Would me so much easiar to see the workings.....Just like they expect to!!

    Good luck everyone!!
  • renae
    renae Registered Posts: 76 Regular contributor ⭐
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    yep thats a great help, although if it's only in this paper then god knows what will be task 2.3 on monday.......ALL of my learning has been from past papers due to missing so much college, but hey...sometimes you can have to much knowledge!?!
  • ckane4
    ckane4 Registered Posts: 14 New contributor 🐸
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    I just think there is so much that they have covered in the last 3 years or so, seems to be different questions on each paper - therefore more to learn each time I do a practice one, think I'm definitely coming around to the "if I don't know it now I never will" way of thinking! Sick! :thumbdown:
  • renae
    renae Registered Posts: 76 Regular contributor ⭐
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    I went on a day course for the pcr exam last yr, and someone told me that the papers rotate (ish) every 5 papers......ie for my dec 08 pcr I paid attention to June 06 paper.......which went out the window because they changed the format....but I passed.
    So I will be studying the dec 06 PEV paper A LOT 2mro......may not be true but even if it has something in it the same, then atleast I will have a chance!
  • Nicolaw1702
    Nicolaw1702 Registered Posts: 64 Regular contributor ⭐
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    I think I am just going to do as many as I possible can and try and remember everything.

    Luckily I am off work until Thurs so get all week .

    Which are you sitting next week?
  • renae
    renae Registered Posts: 76 Regular contributor ⭐
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    PEV monday & DFS Wednesday.

    Started my learning on thursday.......so have done all pev papers badly & am now trying to teach myself the right way...that will continue till Early monday morning......then one day to deach myself DFS.............FANTASTIC!
    Hey, atleast if I do fail I havn't spent months learning it!
  • ckane4
    ckane4 Registered Posts: 14 New contributor 🐸
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    Good tip about the possibly rotating every 5 papers cos I think Dec 06 is the only one I haven't done so far - will do that one tomorrow!!!!!!!
  • Shab
    Shab Registered Posts: 54 Regular contributor ⭐
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    PVE Section

    hi

    i think its a printing mistake for the examiner as we all having the same problem with it.

    :thumbup:any guys GooooooooD LucK

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