[feroz]

In relation to if dep’n should be capitalised as part of cost of constructing a new asset, what did you guys choose?

Also i picked all 3 goodwill patent and licence one had infinite life – The option being all 3 should be tested for impairment yearly.

With regards to the mcq on enhancing characteristics of Financial statements what did you guys pick?

[feroz]

I picked A for inventory valuation.

For discounted operations i believe the second one was the only discounted one or first but defo not both one was restructuring.

[feroz]

Which option did you guys pick for inventory valuation or something.

Was it A which ended along the lines of bringing it to its present location and condition.

or option C bring inventory to its saleable condition?

[feroz]

I chose opition C for the MCQ with foregin currency.

[feroz]

Did anyone choose any Answer A’s for the MCQ’S on revenue recognition question 25-30?

[feroz]

Paul I agree as the question asked for the p/l on disposal in the confiscated accounts. Simply look at the sale proceeds less the net assets at date of disposal and cv of goodwill. No neeed for apportionments as the sub disposed was 100% owned.

[feroz]

Section c – main complications

Interest in tb on the loan notes was at the lower amount so we had to deduct it and add in the correct rate interest by multiplying by the net proceeds of the issue. Investments in tb included 200 gain which you has to split out and report under other comp income as it stated in the question but 100 related to other increments which was to be reported after operating profit. The issue costs of the loan notes were charged to admin exps which had to be recharged to finance costs I believe. The 3.5m gain on properly gave rise to excess dep’n which was to be charged to cost of sales. The net figure was to be reported in other comp income as the gain. In statement of equity excess dep’n transfer was required.

[feroz]

wthhhhhhhhhhhhhhhhhhhhhhhhh@@@@@@@@@@@@@@@’ you had to complete the graphh in blackk pen?????? i completed it with pencil labeld every thing every single thing on the graphhh with black pen. before i started the graph i asked the invigilator she said draw in pencill and label with blackk penn????????????/ i labeled everything with black pen would that make a difference???????

wthhhhh is wrong with these lecturers since when in ur entire life in the uk have u ever been expected to draw a freaking graph with pen you always draw graph’s in pencils? yes labelling you could do with black pen.?!!!!!!!!!!!!!???????????/ grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

[feroz]

Sabyna13- I think both of us are right but im sure your answer too was based on the contribution per unit being calculated by multiplying the c/s ratio given for each service as a percentage to the selling prices provided in the information.and if our contribution figures are correct for each service there’s no way the answer could be wrong if u calculate the sales volume variance (the basic variance for sales) you should get the same total provided your calculating the sales volume variance for both services separately.

[feroz]

Ahmed-To be honest with you specfically talking about Q5 Part c) the disscussion was for i think 10 marks in which the requirment stated something along the lines disscuss the performance of sales lalala using ur calculations to part a) AND …… AND the information provided in the scenario. so im taking a guess 5 marks for disscussion on ur calculations and 5 marks from the information provided in ur scenario if u answer the discussion part well u should atleast get 5/10 for that requirment based on the fact that u did make some really good points from the information provided.

i have a question to ask to everyone did anyone flex the budget for part c Q5?

[feroz]

for question number 5 you were suppose to bring in the clt deduct the annual exemption for the yr in which clt was made bring forward another annual exemption from the previous year. deduct this figure from the nrb on the date he died. look at the value of pet which was made deduct 2 annual exemptions again look at the value of the pet then deduct the remaning nrb left after the clt 1. allocate the reamining nrb to the pet work out iht at a rate of 40%. once this is done. take out the gross value of the clt which was made . so to determine how much nrb to use in the death estate u would make a column for ur transfers after taking out the annual exemptions take out the clt as 7 yrs have elapsed since transfer was made. from the nrb of 325k deduct the value of pet this is the nrb to be carried forward in death estate.
bring in all the assets owned her property isa’s building society etc.. etc.. deduct the funeral expenses. once u have worked out the value for chargeable estate deduct reamining nrb brought forward from ur previous calculations rest is taxed at 40%. this is what i done lol

[feroz]

ABC question couldn’t of have had been any easier for me not even boasting. Considering i done all costing methods except environmental.

variances how ever my calculations would be right only if my contribution per unit was right for the valets i just multiplied the selling prices by the c/s ratio given as a percentage. then the way i calculated them were slightly different to the techinques given in the exam past paper solutions on acca’s website. but i did get 1130f for full vallet and 1130adverse for mini vallet. giving me a total sales mix varince of 6554 adverse and for sales qunatity i got 1530 f for full vallet and 850f for mini vallet. giving me a total sales quantity variance of 48144f
then i calculated the sales volume variance being 41590f in total for both services.
netting of both advanced sales variances of sales mix and yield i got 41590f. so on this base my answer should be correct. but this base is was the contribution per unit right for both products.

[feroz]

@ ANTON i dont know how you calculated yours but based on minutes if you derived your constraints from that the there was demand constraint for both products xeno and yogo
if you plotted your lines correctly using a appropriate scale what you should of found is your fesable reigon bounded by the contraints was the area under the lines if u then drew ur iso contribution line pushed it out to the furthest point what you should of found is the furthest point(optimum point) was the point at which the demand for product y the line intersects the build stage line. the equation of the lines were y=6600 and cant remember form the top of my head the equation for the build stage. just solve them simultaneously get the max amount of products for x and y sub into the contribution objective/function w/e u wish to call it which was i think something like c=30x+40y
u get ur max contribution deduct the fc for the quater u get the profit 14 marks in bag.

[feroz]

Lol i got the same as you on the basis that
you done the c/s ratio given as a percentage and multiplied it by the selling price for each of the vallet thingy’s:P

[feroz]

For part A) the Optimum Point was y=6600 and build stage in minuted the equation would be 24x+20y=1800000 Minutes.(build stage)

To solve this for maximum Contribution

Sub in y=66000 into equation for build stage

so you would end up with 24x+20(66000)=1800000
24x+1320000=1800000
24x=480000
x-480000/24
x=20000

Contribution function= 30x+40y
units of x which can be produced at the optimum point =20000
for y=66000
therefore 30(20000)+40(66000)=3240000
less fixed cost per month x 3 as profit for quarter =650000 x 3=(1950000)
Profit therefore equals =3240000-1950000=1290000(for the quarter)

Hope this helps you.

[Author]

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