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Passed on second attempt – 63%. First attempt was 47%. I really focussed on my timing and exam technique for the second attempt and it shows it paid off. Never would have thought I’d get through the paper with 3 mins to spare!
I split it by Section A and B – 50mins each, then 80 mins on section C. Started with section C first, then B.
I knew I had done some things wrong and didn’t have time to go back to change at all so it’s really reviewing your answers as you go, and keep moving through the paper.
My section C was transfer pricing which I found horrendous so I’m very interested to see the exam performance feedback when it’s out!
I had the transfer pricing one and found that absolutely awful. Just had to throw something together for the calculations and went with my gut instinct.
Also waffled on the uncertainty question as well and I talked about using expected values as well, and also made other points and stated an advantage and disadvantage of each.On ABB I did the calculation wrong and kicking myself because that could have been easy marks. Only thought of what I should have done instead after i’d finished and gone home haha.
I found section A and B ok. Tricky in some questions and I think I had to guess 1 or 2.
Did you get question in Section B relevant costing? I think it was a question on IT infrastructure or services, and what the relevant cost was. It had a note saying that next period it’ll have maintenance or upgrade costs. Did you include that as part of your relevant cost? I thought that because they’re providing a service surely they should be committed to upgrades as that’s expected. But wasn’t sure if I was thinking correctly?
I messed up this one because in usual practice questions you’d be given the overhead number and I was flustered and could not think of how to do it properly until after I finished the exam!
But I would have done this:
1. Work out how many activities are required by multiplying the number of activity per unit of the vocational course, by the number of demanded units.
2. To find the total budgeted amount I think it should have been budgeted amount per unit of activity multiplied by the total required activity as calculated above.
3. Find the OAR for each activity by taking the activity total in #2, and dividing it by the total in #1.
4. Use that OAR and multiply it by the total activity required by that vocational course. That will give you the total budgeted cost for that activity under activity based budgeting, and you’ll just need to repeat for all vocational courses.
Can’t remember the question clearly but I think that’s the general gist/ approach in activity based costing!