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Thank you very much for the excellent lecture, I have a question for paper Dec 2007, Q1 on target costing, I see that production overheads have been calculated including the “idle time”, it says the ” Fixed production overheads are absorbed on an assembly hour basis,” and we had an idle time for the labour hours in assembly For overheads shouldn’t we exclude idle time?
Also, I see in the answer that they applied High/Low method for the variable O.H. I have taken only an average of month 1 and 2 to get the O/H per assembly hour. I got $31.43 /hr
I then calculated the number of radios which could be produced for (240 K hours – idle time = 216 K hours ) I got 432 000 radios. I then calculated total O/H per year (216K hours * $31.43). Per radio the O/H = $6,778,880 / 432000 = $ 15.72. The answer $10 (Var) + $6 (Fix).
Are we penalised for merging both Var + Fix as a single price absorption?
Please help me on these points. I’m really relying on your assistance.
Thank you very much
With regard to the idle time, you have misread the question. It says that each unit takes 30 minutes to make. This is after the idle 10% (which is why when calculating the labour cost it has to be grossed up by the idle time to calculate the amount actually paid). For absorbing the overheads, only the time worked (30 minutes) has been taken into account.
With regard to high/low, you would be penalised for taking an average. (You would not fail the question just because of that, but you would lose marks).
High/low comes up quite often as a tiny part of all sorts of questions, and so it is worth making sure that you are happy with it.
I am taking F5 exam at this December. I just start my study for F5. I am self study and just study open tuition’s lecture, note, revision and flash card. I am do so at my F2 n F3.
My planning is just study whatever in the opentuition and do pass year question.
I know that the F5 pass rate is very low, just less than 50%.
Do you think enough for me to take F5 exam?
It is enough, provided you practice lots of questions. Best is to get hold of a revision / exam kit from one of the approved publishers, because they have lots of questions to practice.
Also remember that 50% of the exam will be writing (not calculations) and so make sure you really understand the topics and that you are not simply learning rules.
Thank a lot .
I have few problems that really need your help. I have been doing freelancing. I am trying to manage my workload to as part-time. My main problems are these:
Although I am reading my text + your course notes and lectures. But when after a day it seems like I dont know anything. I become heavily confused. When I sit to do kit questions, I find it really hard to write though my english is superb. Where to start from, how much to write, what to write etc etc…I am really thrilled by these problems. I was a sharp student not a dumb, I pick everything so fast but I am not sure what happened to me.
Please help me, otherwise I am really depressed. I am trying to tackle this by whatever I read, I planned to write it down in my own words as paragraphs. But I know it takes lots of time and people give priority to pick practice questions instead. Please help me! Please help me!
Kindly give me a detailed response and motivation. It will work more than your video lectures to me. I have high motives but this problem is becoming a barrier.
It is very difficult to be too detailed because everyone studies in different ways.
I don’t know how many papers you intend to take in December, but try not to study too much at once – it is a good idea to prepare yourself a plan. You can see how many chapters there are in the course notes and then spread them over the number of days that you have available for study.
Writing down your own summaries of what you have learned is a good idea (even though it obviously takes time). I always used to find that writing it down myself was the best way of remembering things, however easy some things might have seemed when I was listening to someone else explaining.
Certainly most important of all is practicing questions, but do remember that for the written parts the examiner (and the published books) always write much more than is expected because they know that people use the answers to learn from (and studying the examiners answers to written questions is certainly a good way of learning).
Two things on here might help a little. You will find linked from the F5 main page is list of the topics in past exam questions, and so when you have been through a topic then it is a good idea to practice some of the relevant questions (although bear in mind that many questions examine more than one topic).
The other thing is that also linked from the F5 page are my own video answers to several past exam questions. When I go through the question I try to explain the way I am approaching it. Also, my written answers are a better indicator of the amount you can be expected to write than the examiners own answers.
When you do get depressed then take a few days off studying. The problem is that once you get depressed (and tired) then everything starts going wrong which just makes you more depressed!!! A few days break refreshes you and then things that seemed difficult suddenly make sense
Extremely thanks to you! I think more than 90% of the problem is solved here. I am more convinced now. I dont need any breaks though, Your motivation was the point of satisfaction for me. My 3chapters ABC, target and life cycle are done. Tomorrow I plan to see your throughput costing lecture and notes.
I am taking F4, F5 for the exam session.
Hi, all I have been having problems with watching lectures since yesterday? What is the problem? Am I the only one?
Please reload / refresh the page..
Answers to all the examples are at the back of the Course Notes.
yeh, very helpful! Thanks a lot/
These lectures are really very helpful…….thanks .
clear n easy
great lectures but the questions in your lectures arnt exam standard
@rusted, As far as the target costing itself is, they are certainly exam standard!! The difficulty in exam questions has always been the estimation of the actual cost (which is costing proper – not target costing) – calculating the target cost itself has never ever been difficult!!
The marks for the calculation of the target cost have always been very small. It is the understanding of target costing that is more important and has carried more of the marks (in the written parts).
@johnmoffat, im not reffering just to this video im also reffering about other f5 videos tooo
@rusted, Obviously the examples in the Course Notes are not exam standard – it is the same in all our Course Notes!
The examples are not meant to be exam standard – they are for using with the lectures to explain all the concepts and techniques necessary for the exams.
At the end of each lecture, the students on our courses practice past real exam questions and we go through them with them.
You can find worked past exam questions separately on this website. At the moment there are only ten of these questions but more will be added as time allows.
hi the video is going off again and again. what do i do. i want to listen to the target costing lectures please help
your internet connection maybe is slow?
@admin, admin video is going off again and again and i have 2mb internet connection
Restart your router and PC
Just because provider says its fast Internet .. They hardly deliver their top speed
i am really happy with this teacher , he explains so good that there is no way that you might not understand. Thank you very much you been a help to me.
Its very usefull , thanks
Thanks so much
amazing thanks a lot
Thank you sooo much.. I was very worried how am i going to cope with the F5 paper. Open tution is guiding me well. the lectrures were v clear and helpful.
I was wondering why chapter 3 is not in the list.. can anyone help me out on this.
Thank you so very much.
very good lecture
Thank you for this lecture.
This is amazing help. Thank you.
I’m finding these lecturers extremely helpful….keep it up
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