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Watch “The Pursuit of Happyness”.
Especially, the last scene…
https://www.youtube.com/watch?v=ZHCz0hrmOBs🙂
Facility-level activities such as plant depreciation, property taxes, utilities are activity costs. We need to recognise these.
Profit=$9-$4=$5 per bag.
In case of disposal,
Loss=$4+$0.50=$4.50 per bag.If DEMAND is GOOD(350,000), but SUPPLY is 280,000
Profit=280,000*$5=$1,400,000If DEMAND is AVERAGE(280,000), and SUPPLY is 280,000
Profit=280,000*$5=$1,400,000If DEMAND is POOR(200,000), but SUPPLY is 280,000
Profit=(200,000*$5)-(80,000*$4.50)=$640,000Hope, u r ok now.
The assembly labour hour rate($12.60) is needed to calculate the assembly labour cost of the product.
But we need a method of attributing the fixed production overhead to each unit of the product. In question, we have been told that fixed production overheads are absorbed on an assembly hour basis. Therefore, we need to calculate fixed production overhead absorption rate using assembly hour.
Fixed production overhead absorption rate = Fixed Production overhead/Activity level
Here, activity level means total assembly labour hours.
First, you need to calculate variable overhead using high low method.
Variable overhead = (700,000-620,000)/(23,000-19,000) = $20/hour
Then, calculate fixed overhead.
Total production overhead = Fixed overhead + Variable overhead
620,000 = Fixed overhead + ($20*19,000)
Fixed overhead = $240,000 per monthAnnual total assembly hours is given in question. Therefore, you need to calculate annualised fixed overhead.
Annual fixed overhead = $240,000*12 = $2,880,000Fixed production overhead absorption rate = Annual fixed overhead/Annual assembly hours = $2,880,000/240,000 = $12/hour
Fixed production overheads are ABSORBED on an assembly hour basis.
So, you need to calculate fixed production overhead absorption rate per assembly hour. That is $12/hour.
In order to calculate fixed production overheads per unit, you need to use assembly labour hour for the radio(30/60), multiply by FIXED PRODUCTION OVERHEAD ABSORPTION RATE($12). Not assembly labour hour rate($12.60).
Hope, it will help you.
@chap85
Thanks for ur encouraging comment. That’s we expect from seniors, tutors…
True, any examiner will never get any chance to freak me out in future.
@roydodge
One more thing…
Where do u teach F5, Sir?
If i fail, i would like to take ur class? Would u mind, please?
@roydodge said:
It seems that most of the students who complained about the June F5 exam were doing so on the grounds that the questions were not what they expected. Maybe we should ask: who gives them these expectations? Nothing beyond the syllabus was examined.The student who claimed that BPP students had an advantage (Nickmar) presumably had not noticed that Kaplan had a very interesting commentary on target costing in the Health Industry on pages 26/27 of their 2012 edition; in fact it is even possible to surmise that Ann Irons had based Question 2 entirely on the text in the Kaplan book. As for the complaints about sales forecasts based on a time series in Question 3 it is ridiculous to suggest that this question was unfair; a question using much the same technique had been set in F5 for December 2009 and most courses include a question that was set in the former 2.4 paper where the details are very similar to the question set by Ann in this June exam. Further, time series is supposed to be studied in F2 under the revised syllabus, although there could be some students who studied F2 when this subject was excluded.
The exam was tough but it was fair and there were plenty of places where a well-prepared student who had no pre-conceived notions about what would be examined could score enough marks to pass.
Dear Sir,
I can’t understand, how u compare Q3 Jun’12 with Q3 Dec’09! It’s really ridiculous!!
I only found a one question on time series in the entire Kaplan exam kit, that is Q3 Dec’09. I’m not sure, where u get a question on time series in the former 2.4 paper.The exam wasn’t tough, but it was ridiculous and totally unfair.
Let’s talk about Q4 Jun’12.
The examiner asked us to prepare a statement which reconciles budgeted contribution to actual contribution in as much detail as possible.
“Untill now, Lock Co has had a market share of 25%. In the month of May, however, the market faced an unexpected 10% decline in the demand for locks.”
What does the examiner mean by this statement?
Do we need to calculate market size and market share variances? or what?Don’t try to make us fool.
This exam paper was absurd. No doubt about it.Comments by OpenTuition on the June 2012 Paper F5 examination
“It would certainly be difficult to get very high marks, but this is the same with all ACCA exams – they are not meant to be easy!
However, a well-prepared student who attempted the exam sensibly should have been able to get pass marks without too much difficulty.
It is clear that too many students rely on question-spotting and on tutors’ guesses. The Paper F5 syllabus is very large and there is no alternative but to study the entire syllabus.
For many students this will have been their first ACCA examination (because of exemptions). It is too easy to under-estimate the level of difficulty and the amount of studying required.”
Isn’t it a futile attempt at concealing a serious offence???
One of my friends just sat his last paper, P5 today, who’s gonna qualify tomorrow. He passed F5 before under this examiner. He never heard about Proportional/Multiplicative model.
I can give you a lot of examples like this.
I don’t think so, u can pass any acca exam by only studying study text.
For a deeper understanding, u need to practise exam kit, pilot paper and all past exam papers as well.
These are just compiled study texts. These can’t give u a thorough knowledge of whole syllabus within 300/400 pages.
I went through Kaplan complete text twice from first to last.
I practised all 71 questions from exam kit plus pilot paper. And also, December 2011, June 2011, December 2010 exam papers. Took tuition. Sincerely followed all classes.I believe in myself. And, nothing is wrong to expect a pass in this paper.
What happened?
I started to feel sick, when I first read the question paper in the exam. In the middle of the exam, I really couldn’t able to go any further. I just wanted to walk out from the exam hall.
I know, if I tried hard, answered all written parts, definitely I could pass this exam (still a little hope for pass). But honestly I felt so sick because of this exam paper. This is a great example of the mental sickness of an examiner; even ACCA.I know, if I don’t pass f5 this time, I’ll be in a very very big trouble. I’ll be one of those people who will be affected the most. My visa status will be in danger. I registered two times before. But didn’t go for exam because of insufficient preparation. It’s my third time, but for the first time I sat the exam. And I believe, I had a very good preparation indeed.
What a cruel reality! Last December I didn’t go for this exam because I couldn’t revise properly the whole syllabus. I read her all articles. And I was scared to go for exam without proper preparation. When I saw the exam papers, I realised I could pass only doing 3 questions. That was the most easiest f5 question paper, I’ve ever seen!
Though I am really so much mentally upset to see, my all efforts, hard work has been ruined in this way…
But I know…and I don’t like to pass in this way…
This is not education! I don’t believe!!!I wish, all concerning body would read this post. And, think properly in future.
Thanks.“Integrity: we act ethically and work in the public interest, treating people fairly and honestly; we encourage the same from others.”
Yes, this F5 exam was the best example of one of ACCA’s core values!
It’s all about MONEY…GREED…
Beware of ACCA and its learning providers!
That’s very good information by fasb.
We all should strongly protest against this unethical, unfair, unprofessional, unacceptable approach by F5 Examiner.
Nosheen is right. The only F5 standard question was, question 5(ROI, RI).
This is a very serious issue now.
What is about F5 Performance management? What’s its objectives? What’s the intellectual level of a candidate, ACCA expects? Who are those EXAMINERS? What’s their background? How capable r they?What is ACCA? What is it doing? Maximising profit? Quality education? Or what else?
Non-qualified examiner! Compiled study text!
It’s not education!!! Of course, it can’t be…We need to start thinking…
What I am feeling…
This examiner is lack of creativity. She doesn’t know, how to make an innovative question on ABC or throughput accounting or target costing which tests the intelligence, knowledge and understanding of a candidate.What she is doing…
Playing with us…like…Catch me if u can…She told us about herself in the “F5 Examiner’s Approach” article…
“I studied law at both degree and prefessional level…” etc.etc.I am really confused now about ACCA.
After reading the question paper, I lost my interest, my enthusiasm…
I don’t know really, what i should say…
But, we are truely unfortunate, we have got such an examiner!
She played a very nasty game with us. That’s totally unfair, unethical!
Hope, she would write again in her report for June, 2012 exam,”As I’ve always said before, don’t try and question spot in this exam. It’s a dangerous approach and unlikely to work…There is no easy way to pass F5; hard work is the only answer…”
I don’t know, what she is trying to achieve…
Just know, i tried my best. But it didn’t work this time.
May be, there are a few people like me, have fallen in a big trouble just because of this exam.
Good work, Ms F5 Examiner! Keep it up!!