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@bobiemmie said:
paper was too easy. i had prepared for difficult topics like learning curves and time series. the time was not enough at all. how does some one exhaustively answer such a paper with all that kind of theory in 3hrs? the exam was about apportioning time correctly. i left a whole 20marks on linear programming!! i know, God be with me. soooo sad!!!also very sad here!!
I didn’t have time left for calculations in liear programming, though I have a fairly good understanding of this topic :(((. Without the result from part a, shadow price and slack in part b couldn’t be worked out. Had there been only two constraints I could have very quickly worked them out by calculating not drawing! So I just listed the formulae and wish credits could be earned for these efforts.
I would say 2 – 3 cost drivers are enough to see if the student has grasped ABC, but 4 cost drivers were so time consuming!
Pray for a pass!
To Joseph89: I cannot recall the details of the question on retained earnings, sorry. As for the one on partnership, I think it’s the same that 18000 shall be deducted from the total appropriatable profits. Neither did I make any adjustment to the opening credit 1944, though I was dubious about the 360 to be debited to the receivables ledger. I’d also say that there were a few tricky things in this F3 paper.
What about the other question on partnership? One of the partners was guaranteed a minimum share of profit. I knew the interests on drawings should be added back to the profit before appropriation. But the question asked about the partner’s “total profits”, which is different from “residual profits”???
The one on suspense account (credit 1944) also confused me.
