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Question 3 Wtf! I’ll definitely be resitting in September.
I was so happy when I saw question one it was fairly straight forward but didn’t finish it in time. But that pleasure was quickly sucked away by 2 and 3 I went brain dead.
There should be cold place in hell for who ever created question 3 part b, first 2 thought was going well then when I saw that was like hitting a wall.
WTF Q3 is lengthy! I was run out of time and unable to complete Q3 (b).
Q1 (a) suggest kpi, explain
(b) target costing
(c) outsourcing
(d) source of information of quality cost? (Can’t remember)Q2 (a) 4 characteristics of service industry and quality of service and resource utilisation
(B) building block model and comment on the KPIs givenQ3 (a)should move from current system to ABB?
(B) complete the table and comment on the activities why actual vs budget differenceWhat did everyone get for the budget variance in Q3? I had 1,875 and struggled to explain it lol basically said the number of items same as budget but 100 less receipts but struggled to articulate the effect that had!
I thought Q2 was the disaster question personally!
Did i misunderstand Q3b? I thought we just had to calculate the ABB for 20X6 then determine why July 20X5 actuals had a variance to budget as actuals were $18,000 based on 650 receipts of 100k items but budget was $19,875 for 750 receipts of 100k items?
What did everyone write for question 2 about the characteristics of services? Kaplan study text didn’t really cover this in much detail so struggled to write a meaningful answer
@accastudent1986 said:
What did everyone get for the budget variance in Q3? I had 1,875 and struggled to explain it lol basically said the number of items same as budget but 100 less receipts but struggled to articulate the effect that had!I thought Q2 was the disaster question personally!
I had something similar for the variance to start on part a, although when I came to do part b I had a different figure! About $22,750 if I recall?
3b was an absolute nightmare. I couldn’t work out how many “taggers” there were so ended up doing 1.2m receipts / 35,000 a month would be 2.86, so need at least 3 to cope with volumes. So $24,000 x 3 for the year?
Mills367 i agree with this, i think that is the number i came to as well
Found the paper okay, a lot better than March! First retake of this and hoping for a strong pass after today
But the taggers tag per item and the budgeted items were 100k per month and actual items also 100k per month it was only the number of receipts that was different
I BS my way through 3 and said because everyone was salaried it couldnt be efficiency or labour rate variance therefore it was because the new staff hadn’t started yet or featured in payroll lol
mills267 – I used the same method and assumed three taggers.
Seemed like a harsh question to throw in – from the level of feedback from other exam candidates, it seemed like this was the least anticipated topic to cover.
How did everyone do on target costing? building blocks? Quality costs etc.?
I calculated total good inwards budget for the year ($238,500) then divided by number of planned items for the year (1,200,000) to get budget per receipt then multiplied by 100,000 to get budget for the month
I didn’t even get to read Q3 all the way through as I completely messed up my timings!
I did well on q1, but didn’t do the target costing, hoping I got at least 30 marks. Q2 was strange, I found it hard to relate the points but hoping I got 15 out of 25, therefore need a miracle somewhere to get the last 5 or so.
What was the recommendation for q3 to move to ABB or not?
And where was the transfer pricing, corporate failure, ROI, RI etc,, all the things that I knew well!
Can anyone advise of KPI used for Q1?
For Kpis that would satisfy providers of finance I said gearing and EVA.
I said gearing as i figured that would be relevant to venture capital company if company took on more debt and it specifically mention management had a majority stake so I’d assume they could take on more debt leaving company more geared and not require permission of venture company.
For world class software team, up think i said market share and customer survey.
Quality- no of defects returned and no of legal claims for instances where product did not work as required.
I’m not sure now if any of the above were correct ?
Target cost was $140 with desired profit margin of $35 (20%) and i think estimated cost per unit over 2 year life was $145 so I recommended collaborating with outsourcing firm to determine what the value add processes were and focus of improving those to get to target cost
I recommended ABB as a overheads were high proportion of total cost and weren’t primarily volume driven
I think i need 45 in first 2 sections as question 3 was mental could not chosen harder topic
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Question 3 was pretty crazy and I might as well gave up about 12 marks on the b part.
I think I did ok on Q1 and Q2, let’s hope they are enough to carry me to pass (plus part of 3a)
For 2b did anyone recommend additional rewards linked to competitiveness, flexibility etc for those that were not already included?
For 2a did people use the Service sector characteristics as headings or the performance measurement problem as i was flicking between the 2 and don’t think that helped
A miracle is needed as 3b is a zero mark write off
Q1
KPIs re staff:
Staff turnover
Courses attended
Awards and publications in specialist magazines No of innovations per periodKPI’s re investors:
Profitability, gearing and liquidity rations Div cover Interest cover Eps GearingB/ target costing had around £3 gap or so
C/ guality cost
Conforming – appraisal and prevention in design phase – main company Non confirming – internal failure cost – outsourcing company Non conforming – external failure cost – split? Because main company is finishing the product? Ie installing software?D/ problems with information source re quality in outsourcing firm – they will need to unstall erp system to monitor quality as quality crucial to main business
2.b/ contradicting bonuses for dentists (no of patients vs quality)
2a/ mainly comparing how different it is to tangible product
3a should pick ABB as many changes in business (incremental not fit anymore, also suggested rolling) ABC will be costly and they have no more finance
Did anyone recommend additional rewards on question 2, such as rewards linked to competitiveness, flexibility etc?
Did people use the service characteristics as headings on 2a or the measurement problems? Found myself switching between the two
Need a miracle as i got 0 on 3b :/
Q1
KPIs re staff:
Staff turnover
Courses attended
Awards and publications in specialist magazines
No of innovations per periodKPI’s re investors:
Profitability, gearing and liquidity rations
Div cover
Interest cover
Eps
GearingB/ target costing had around £3 gap or so
C/ guality cost
Conforming – appraisal and prevention in design phase – main company
Non confirming – internal failure cost – outsourcing company
Non conforming – external failure cost – split? Because main company is finishing the product? Ie installing software?D/ problems with information source re quality in outsourcing firm – they will need to unstall erp system to monitor quality as quality crucial to main business
2.b/ contradicting bonuses for dentists (no of patients vs quality)
2a/ mainly comparing how different it is to tangible product
3a should pick ABB as many changes in business (incremental not fit anymore, also suggested rolling) ABC will be costly and they have no more finance
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