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oh sorry they have given the answer I have just seen it Thank you very much john. I am very sorry for asking something that was there. the working are very clear as well.
FFA-Financial Accounting (Extra MTQs) FFA (Extra MTQs) Answers. * I am referring to this question please. Many thanks. its under the specimen Exam it says extra MTQS.
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FFA-Financial Accounting (Full Exam) FFA (Full Exam) AnswersFFA-Financial Accounting (Extra MTQs) FFA (Extra MTQs) Answers. * I am referring to this question please. Many thanks.
The following information relates to Geofrost Co a limited Liability Company for the year ended 31 October.
I am struggling to find the the net movement in cash and cash equivalent cash and cash equivalent at the beginning of the year . Cash and cash equivalent at the end of the yea.
Thank you very much.
thank you very much I thought it may be a good idea to have a go at this question although it came from another student.
my answer is 153 is it correct please. Thanks.
thank you very much I had a go at it again after I read your explanation and got the figure that I was after Many thanks. I appreciate your help.
yes I did and understood well with the worked example. in the lecture example the closing inventory was valued at 50 percent which did not require a lot of thinking from me. but in this question I was not sure is it 20 per cent or 80 percent but I have understood it now. Thank you very much for your help.
company has over-absorbed fixed production overheads for the period by $6,000. The fixed production overhead absorption rate was $8 per unit and is based on the normal level of activity of 5,000 units. Actual production was 4,500 units.
What was the actual fixed production overheads incurred for the period?
A $30,000
B $36,000
C $40,000
D $42,000
I have a doubt why the fixed production overhead absorption rate still was $8 per unit when the Actual production was 4,500 units.this question has been asked in the ask the tutor forum for some years ago. I thought it might be a good idea if I have a go at it. please advise if I got it right.
calculation.
5000*8 equals 40000
actual level of activity 4500* 8 OAR equals 36000 less the over absorbed amount of 6000 equals 30000. Thank you very much for your assistance.
and the full answer typed from the book was as follows.
at 90 percent activity 6240
at 80 percent activity 6180change 10 percent equals the difference of 6240-6180 equals 60
variable cost per 1 percent activity 60/10 percent equals 6
substituting in 80 percent activity
fixed cost of labour and production overhead equals 6180- 80*6 equals 5700
flexed cost budget allowance
Direct material 30*83 equals 2490
labour and production overheads
variable 6*83 equals 498
fixed 5700Giving a total of 8688
this was the full question.
Qt Manufactures a single product and an extract for their flexed budget for production costs is as follows
AT 80 PER CENT.
DM 2400
DL 2120
Production overheads 4060.AT 90 PERCENT.
DM 2700
DL 2160
Production overheads 4080what would the total production cost allowance be in the budget flexed at 83 percent level of activity. to the nearest 1
thank you very much. I have made a tying error for production overhead it is 4060 at 80 percent not 4080. and obliviously my addition is wrong on the basis of that. I will have a go at it again but its clear to me now. many thanks. I have not got the current exam kit my one covers from September 2019 to 31 August 2020.
thank you very much for your help. i will stick the way the book has done and the way that you have explained in the free lecture notes..
thank you very much I think I got it now. it would be 108000+2000-3000+7000-5000 which gives the 109000. Sorry for keeping on and on I hate to assume that I have understood something without really understanding. many thanks. I appreciate for your help.
Just to be clear with the above question.
hence the question asks the std profit it will be based on the std Absorption.
so sales volume profit variance is irrelevant because the budget was already flexed.
sales price variance is irrelevant.
total variable cost is irrelevant.therefore we have only got left with the last two variances and this will give a difference of 1000 F.
so Applying the rule the profit will increase by 1000 Giving 109000. can you please Advice on what I have done. Many thanks.thank you very much for your assistance.
sales volume variance is less obvious for me how you get 1720 can you please explain how you have arrived the figure. i tried to put the figures into operating statement but I couldnt able to get the 1720..
Again thank you very much.
the only possible answer i can think about is that.
Given that the standard labour cost of actual hours worked is 116000. there is no need for labour rate variance of 5800 F so I have taken away from 5800 giving 110200. since i cant able to find the Actual hours i have divided the budgeted hours of 30000. giving an answer of 3.67 but still I cant able to find the actual hours worked.
My apologies for typing this pit I thought its good idea to show that i Have tried the question before asking for an answer. thank you very much i appreciate for your help.thank you very much. my understanding is I will divide the number of the staff given in the actual question regardless weather an extra staff or more will be required in the future.
Again thank you very much.
thanks for the reply.
I cant able to see where the extra staff is allocated in terms of the arithmetic. staff costs have only been divided by the existing 4 employees if though the question says an EXTRA STAFF IS REQURIED .. can you please show me if there is an alternative way that can be done. I hope that would make me easier to understand the question very well.
Many thanks.
