ECR exam

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I need to know weather I have passed or failed, who is with me on this one?<BR><BR>Ok, can you help me predict weather ive passed or failed<BR><BR>On section 1 there was<BR>The stock Card where I got £61,500 (or similar) which I think i was right<BR>The Labour £87,500 (or similar) which I think I was right<BR>Double entry of stock which I believe to be right<BR>The Allocation and Apportionment (which I feel confident about)<BR>Marginal Cost £33<BR>Full absorption Cost £41<BR><BR>OAR - I GOT £30.77 WHEN THE ANSWER IS £40<BR>but i dont think i shown any workings apart from writing the formula down<BR><BR>And i didnt even attempt the UNDER RECOVERY question, I didn't realise what it was getting at until I started to leave the room, it clicked.<BR><BR>So, who is good at trying to work out how many marks each question is worth? Are the things I got right enough to weigh out what I got wrong?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    Sorry, im not happy atall<BR>I think they need to take out the Under Recovery thoery question to pass me haha <img src="i/expressions/face-icon-small-smile.gif" border="0">
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    i also got 30.77 is this def wrong?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    I seem to have the same answers as you guys :-). However I messed up on the absorption costing question - were we supposed to aportion the "direct assembly costs" to the other cost centres? I didn't! Also I had no use for the "number of employees per department" as the indirect staff costs were allready allocated - did anyone else find this was the case?<BR><BR>I have read somewhere on the AAT website that the pass mark is 55% for Foundation, 50% for Intermediate and 45% for Technician. They wont alter the passmark I dont think but what they will do is moderate our individual marks so that a certain number of people pass. This means to bump up our percentage if the paper was badly done and lower our marks is it was well done.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    I couldn't remember what another method of capital investment appraisal was either so i put something about graphs which i knew was wrong. I did think about putting discounted cashflow method but i didnt put it and when i came out i asked my tutor and he said thats what i should have put. I was well p'eed off but overall i think i did o.k.<BR>Was £40.00 for the oar right ?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    remind me what was question 2.1 and 2.2 about?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    Well by looking at these answers I am not sure how I have done. I feel i have done well in section 1 but awful in section 2. Does anyone have answers to 2.1 and 2.2 . <BR><BR>Cheers <BR><BR>Dee
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    I got the OAR 40 as well. I thought the question did mention about the deptt being machine intensive. Also all the memos and explaination were not very clear as to what the examiner wanted. What did he/she mean by under-recovery. I might sound very thick but I completedly waffled on this one. wrote about the difference of the fixed cost absorption rate as per absorption costing and marginal costing. after reading all your answers i know i have muddled all the memos. also the mos one. could not word what to write. I hope they do not mark us on our explanations as i am sure got all of them wrong. also in the report the 2 commercial reasons i gave was the residual value and the effect of this project on the other products. Thought of the value after 3 years but the question very clearly said that the project was only for 3 years. What do you guys think !!!!!<BR><BR>Stella
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    yeh used the wafflin method aswell! wrote sommat bout it been production over and above the break even point contributing to profit
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    I thought the IRR was part of NPV?? - i.e the rate at which the investment return is zero.<BR><BR>I got £40.00 for the OAR as well - I used machine hours as the basis of absorption.<BR><BR>What did people put of the meaning of Percentage Margin of Safety???? - I just waffled and used some long words - !!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    i completely cocked up on the marginal unit cost - wasn't expecting that to crop up at all - kind of skipped over that in my revision...it was a difficult paper, so maybe, we will all scrape thru ok.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    Thats what I didnt do. I just left it. But when I walked out I thought AGGHHHHdid they mean under absorptin.<BR><BR>I should have twigged as it was on the production overheads section.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    I tok that to mean the same as under absorbtion - dunno if that was the right approach or not?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    think i got £65, 000 for the stockcard<BR>Journal think i entered wrong codes<BR>allocation/apportionment was fine<BR>Marginal Cost £33<BR>Full absorption Cost £41<BR>OAR £30.77 because in included labout hours!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    OAR<BR><BR>£400,000 for Overheads<BR>Labour hours 3,000<BR>Machine hours 10,000
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    Internal Rate of Return was the other, not that I fully understand it, the discounted rate applicable that results in zero NPV.....
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    It was Internal Rate of return dunno what it means tho
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    yeh i heard it was about 60% last year, but they mark it then set the percentage on how well everyone has done, so that a certain amount a year pass i fink
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    i heard before if the paper is generally badly done, the pass mark is lowered to reflect this, hopefully then, about 20% should do it..........haha
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    What was the OAR question again?? - I can't remember the figures!<BR><BR>I didn't do very well on the waffley bits - I could not think what another form of investment appraisal was - as far as I know, we only learned Payback & NPV.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    Sorry all, I hope you did crap haha <img src="i/expressions/face-icon-small-tongue.gif" border="0">
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    I included labour hours aswell <img src="i/expressions/face-icon-small-sad.gif" border="0">
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    normally between 60 and 70% but it doesn change every year depending on how people have done
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ECR exam

    I think ive got between 67% and 72% of the paper right. Does anyone know the passmark?

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