[Barbara]

I did in a month or even a bit less and got 53%.

[Barbara]

Hi John,

Just following on this, the lectures for F9 Sept 2016 are the same already on the website, correct?

Many thanks.

Barbara.

[Barbara]

Thanks and the same to you!

And a huge thanks to John!

[Barbara]

Eh some good news!

But if it’s in a multiple choice question, it will be wrong choosing differently, no? Or would they consider?

[Barbara]

Ha nearly the same as my question below!

[Barbara]

Oops! That’s true!

Thank you for your reply! 🙂

[Barbara]

Hi John,

Thank you so much for your explanation!

I will pay more attention next time they say cost to disposal 😉

Can’t believe exam is on Monday. I’m so scared! Haha

Well.. 4 days of practising left!

Thanks again!

[Barbara]

Thank you John.

The question is from Kaplan Revision Kit. Q60.

RST Company provide three services: R, S & T.

Service R Service S Service T

Fee charges to customers $100 $150 $160
Unit service costs:
Direct Materials 15 30 25
Direct Labour 20 35 30
Variable O/H 15 20 22
Fixed O/H 25 50 50

All three services use the same type of labour which is paid $25 per hour.

Fixed O/H have been absorbed pn the basis of machine hours.

Answer:

Contribution per unit 50 65 83
Direct Labour cost per unit 20 35 30
Cont. per $1 of Dir. Labour 2.50 1.85 2.77
Ranking 2 3 1

On my answer I divived the $25 that is the cost of labour per hour by the direct labour cost per unit to find out how many hours each service would take. After checking the answer I realised that I didnt need to complicate and should just use the information given but I wonder why did it give me a different answer.

Hours per unit 1.25 0.71 0.83
Contribution per hour 40 91.54 100
Ranking 3 2 1

[Barbara]

Its definitely wrong the option about written partnership and it came up on my exam but I’m sure I got the question right 🙂

I passed my exam! 71%! Whew!

Thanks Mike!!!!!

[Barbara]

Which of the following statements about limited liability partnerships is true?
-A written partnership agreement must be registered with the Registrar of Companies
-At least one general partner must be appointed with unlimited liability for the debts of the firm
-A limited liability partnership is a corporate body which has a separate legal personality from its members

The last one is the correct answer.

Just came across this question from the online practice test and mark the first one as correct but it was wrong. Will definitely not get it wrong in the exam 😉

[Barbara]

Thank you Mike!

[Barbara]

Hi Mike,

I have an exam tmw and I still think the option A in the question is correct.

[Barbara]

Hi Mike,

I was actually reading an article from Investopedia before writing my question here, but was different article showing the differences between them.

“The LLP is a formal structure that requires a written partnership agreement” which means option A in the question is correct as well?!

[Barbara]

Thank you so much Mike.

[Barbara]

Hmm interesting! That would be the same for a Special Resolution? More than 75% actually voting?

Thank you so much for the reply and clear explanation!

[Barbara]

That’s perfect Mike. Thank you very much.

[Barbara]

Hi John,

I did watch all the lectures! As opentuiton says, I watched all the lectures and did the exercise from bpp revision kit (not all but most of them). Did my exam today and pass with 72%. Whew! Thank you so much for all your help! Don’t know how I would do it without opentuiton!!!!

[Barbara]

Thank you for your answer John.

Just one more question on this..

The excess of Depreciation we:

DR Revaluation and
CR Retained Earnings

And then keep depreciating with the old amount, right?

[Barbara]

Hmm it makes sense thinking that way hehe thanks John!!!!

[Barbara]

If there is a refund to the customer, why to debit receivables? It would increase receivables, no?

[Barbara]

Thank you so much for you time answering all my questions John 🙂

[Barbara]

Hmm you actually remove the selling cost in the second question.

Perfect.

Thank you very much for your time!

[Barbara]

https://opentuition.com/acca/f3/f3-revision-mock-exam/

Mock revision I mean

[Barbara]

Hi John,

I was just doing the same Mock exam and this question was changed to “What allowance for receivables should appear in the Statement of Profit or Loss at 30 June 2006?”. Is the question not wrong because Allowance for Receivables doesn’t appear on the SPL?

[Barbara]

Hi John,

That’s because it is saying about the Purchase Returns Daybook, but if said about “returns not included”, we would need to count it as well, right?

[Author]

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