Help on unknown PEV exam?

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:08AM in AAT student discussion
Hi,<BR><BR>My tutor gave me a practice PEV past exam paper and i was just wondering whther anybody has the answers to this?<BR><BR>Im unsure of the date of the paper because the tutor didnt give me the front sheet, but it is based on ''Primary Chemicals Plc''<BR><BR>Any help would be very much appreciated,<BR><BR>Thanks<BR><BR>Dan<BR>

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help on unknown PEV exam?

    Ypu can download past papers on this website, both answers and questions. You'll just have to look through them. When you come on to this website there a link Download free study aids.<BR>Hope this helps<BR><BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help on unknown PEV exam?

    cheers for the reply lisa<BR><BR>iv searched through all of the PEV papers on the aid list but it isnt any of them? it must be an older one? still if anybody knows of the paper im talking about and has any answers i'd appreciate the help,<BR><BR>thanks
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help on unknown PEV exam?

    Hi<BR><BR>I have just had a look back on some of my old papers and if it is of any help it isnt Jun 04, Dec 03 or Jun 03. So it could be before then or maybe a sample paper.<BR><BR>Sorry cant be of any more help
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help on unknown PEV exam?

    That question was asked in December 2002 paperto prepares and monitor standard costing variances for the distillation dept.<BR><BR>Stand price of material per litre=106250/12500 = £8.50<BR><BR>Actual price of material per litre = 99,072/11520= £8.60<BR><BR>Std litres of mat/barrel= 12500/2500 = 5.00<BR><BR>Std lab rate / hr= 60,000/10,000=£6.00<BR><BR>std lab hours per barrel= 20,000/2500= 4.00<BR><BR>Std machine hours per barrel = 20,000/2500= 8.00<BR><BR>Fixed overhead / budgeted machine hour = 200,000/20,000= £10<BR><BR>Std absorption cost/barrel = £366,250/2500=£146.50<BR><BR>(B) Material : price variance=(Std price x actual qty ) -( Actual price x Actual<BR><BR> quantiti ) = (SA-AA) = (8.50 x11,520)-99,072 (given )= 1,152 Adverse<BR><BR>Material usage variance= (STD pricex std qty) - (Std price x actual qty)<BR><BR>=(8.50 x5 x2,400)- (8.50x11,520)<BR><BR>=£4080 Fav<BR><BR>Labour variances:<BR><BR>Rate variance: (SR x AH )-(AR x A H)<BR>=(6 x10,080) - 61,488<BR>=1,008 Adverse<BR><BR>Efficiency variance: (SR x SH)- (SRxAH)<BR>(6x4x2,400) - (6x10,080)<BR>=£2,880Adverse<BR><BR>Fixed overhead :<BR>Expenditure variance : Budgeted - Actual fixed overheads<BR>=200,000-185,808<BR>=14,192 F<BR><BR>Volume variance: (SR X Budgeted machine hrs)- (Sr x Actual machine hrs produced) <BR>=(10x 8x 2500) - (10 x 8x 2,400)<BR>=8,000 A<BR><BR>Capacity variance : (SR x Budgeted hrs) - SR x Actual machne hrs workd<BR>=(10 x 8x 2,500) - (10 x 18,960)<BR>10,400A<BR><BR>Fixed overhead efficiency variance: SR x Actual machine hrs worked)- SR x Act machine hrs produced)<BR>=(10x 18960)- (10 x 8 x2400)<BR>=2400F<BR><BR>Reconciliation statement:<BR><BR>Std cost of actual prod. (146.50 x 2,400) = 351,600<BR><BR>Materia variance: Price 1,152A<BR> Usage 4,080F<BR>Labour Variance: Rate 1,008A<BR> Eff. 2,880A<BR>Fixed O'head: Exp 14,192F<BR> Capacity 10,400A<BR> Eff. 2,400F<BR>
    5,232<BR><BR><BR>Actual cost of actual production 346,368<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help on unknown PEV exam?

    thats the one mate! cheers for that :)<BR><BR>Thanks for the help ppl<BR><BR>Dan

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