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Lectures have been uploaded working through and explaining the questions in the specimen exam for Paper F5.
Great lectures, thanks a lot. I went through all of them, and I am a bit confused. In Q5 of the specimen exam paper Labour efficiency operational variance has been calculated as: Actual hrs worked and Rev.Std.hrs for actual production and cost out per Orig. Std Cost of $12. However similar Question in December 2012, cost out per Revised Std. of $11.40. Do we cost out per Original Std. Cost or Revised Std. Cost?
Thank you.
I assume that you are looking at the answer in an older revision kit (not a current edition). If you look at the examiners own answer to the Dec 2012 question on the ACCA website, you will see that she has used $12 (not $11.40).
The problem is that there are two ways of calculating planning and operational variances, which give different answers. However, the examiner has said that she will accept either of the two approaches.
The previous examiner used one approach (which is the one that is in your book) and until this year all of the books did it that way. The current examiner uses a different approach (which is easier) which is the way that all the current editions of books use (and the way that I use in our free lectures).
Again, you get full marks for using either approach (even though the final answers are different).
Hi John,
Just wanted to say thank you so much for your great lectures. You are the best lecturer I have ever had and what is so amazing that I never been in the same room with you and you have been teaching me for the last two months.
I hopefully will pass with good grade and let you know my result as I only listened your lectures and worked on one of the exam kits.
Best wishes,
Sophie
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