Task 1.7 Assessment 1
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emma8021
Registered Posts: 39 Regular contributor ⭐
Hi ,
Can anyone else with the calculation of other production overheads in task 1.7 assessment 1?
Other production overheads include a variable element of £0.40 per unit .
Original Budget is 73,000 units other production overheads cost £46,400
Flexed budget is 76,000 units .
Thanks
Can anyone else with the calculation of other production overheads in task 1.7 assessment 1?
Other production overheads include a variable element of £0.40 per unit .
Original Budget is 73,000 units other production overheads cost £46,400
Flexed budget is 76,000 units .
Thanks
0
Comments
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Hi emma8021
£46400/73000units=0.63 total cost per unit
0.40 is variable, therefore 73000unitsx£0.40=£29200 variable cost
Fixed cost is the difference between the total cost and variable cost, therefore
£46400-£29200=£17200 fixed cost
For the flexed budget of 76000 units we apply what we just found
76000units x £0.40 = £30400 + £17200 fixed=£47600AAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
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Thank you makes perfect sense now :-)0
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You are welcome. I also prepare for budgets, when are you having your exam?AAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
Xero Certified Advisor0 -
I have my exam Tuesday evening , how did you find the exam? I'm dreading the written element.0
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I haven't been yet, maybe end of November if I feel confident enough
Calculations I find OK, it's just the written part that I need to focus on. How did you prepare for the written tasks?AAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
Xero Certified Advisor0 -
I literally just practised writing out the style of the answers from the test assessments then I know how to answer the question step by step and what they want from answer - I'm still finding it quite challenging to be honest just hope I manage to pull it all together for the exam. have you passed any other exams at level 4 ?0
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I have done FSLC begging this month, still no results, I am anticipating Synoptic Spring time. How about you?AAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
Xero Certified Advisor0 -
I've done financial statements also , passed in April :-) i'm sure you will be fine . How did you find the exam? Budgeting is my second exam on level 4 and yes i'm aiming for synoptic just after spring also as hoping to complete decision and control after Christmas. Do you currently work in accounts ?0
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FSLC I found all right, because I just finished Synoptic level 3 before starting it, so everything was fresh in my mind. I hope results will be decent
I don't currently work in accountancy, I am not looking tbh, maybe I will considered when I start ACCA
I also should mention that I do self study
Do you use any provider?What are your plans after concluding aat 4, and do you work in accountancy?AAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
Xero Certified Advisor0 -
I also self study and work full time as a bookkeeper - I plan to continue on to Cima/ACCA once i have finished level 4. Got my exam tomorrow so just working my way through the assessments and i cant get my head around task 1.5 (C) Assessment 2 how to work out the energy cost , have you done this assessment yet ?0
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Attach a screenshot, I can't access it from hereAAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
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I am attaching it here because I can't seem to view it in decent formatAAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
Xero Certified Advisor0 -
Shall i type the question out instead?0
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My answer is attached
Use high low methodAAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
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First Draft
Sales Volume 250,000
Sales Revenue £375,000
Second Draft
Sales Volume 210,000
Sales revenue £315,000
Third Draft
Sales Volume 225,000
Sales Revenue £337,500
Energy
First Draft £33,250
Second Draft £31,450
Third Draft ????
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This is a semi variable cost because it does not go up or down proportionally with the level of activity
To find semi variable cost we can use the high low method , granted if you have high and low units of production and we need the one in-betweenAAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
Xero Certified Advisor0 -
Hope this helps Emma
Good luck tomorrow and let me know how it went, any help just let me knowAAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
Xero Certified Advisor0 -
Thank you that's great , yes i will let you know how i get on .0
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