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Affiliate finally, cannot believe, 4th attempt. 62pass mark. Earlier attempts 39 on both occasions!!! I do recommend Kashif Kamran you tube video, I watched couple of times couple earlier sittings, helped a lot on exam technique, more than lsbf lectures a s revision.
Thank you Open tuition for your great lectures!!! 1st attempt and passed it with 51% Did self study with BPP revision kit and OT lectures:) Now, P6 and P7 left…..
Passed on my 2nd attempt. Did not expect it at all, but did my best!!! So happy:) Now, P3 in September
Got it finally!!!!My 4th attempt and 55%. Thought that September exam was really tough, especially 20MCQ. Moving onto P2 now.
Throughput Q:
Co makes 2 products: X and Y.
X Y
SP 50 32
Material 10 6
Labour 20 15
Assembly time 20min 15min
Max demand 1500 units 1000unitsTotal assembly time is limited to 600hrs. Using throughput, how many units Y should produce?
First contribution:
X: 50-10=40/0.3hrs=133.3, so X FIRST
Y: 32-6=26/0.25hrs=104, Y SECONDX: 1500u*0.3=450hrs
Y: 600u*0.25=150hrsWhere am I getting wrong, as my answer of 600units does not match any of the mock exam?
Throughput Q:
Co makes 2 products: X and Y.
X Y
SP 50 32
Material 10 6
Labour 20 15
Assembly time 20min 15min
Max demand 1500 units 1000unitsTotal assembly time is limited to 600hrs. Using throughput, how many units Y should produce?
First contribution:
X: 50-10=40/0.3hrs=133.3, so X FIRST
Y: 32-6=26/0.25hrs=104, Y SECONDX: 1500u*0.3=450hrs
Y: 600u*0.25=150hrsWhere am I getting wrong, as my answer of 600units does not match any of the mock exam?
Good Afternoon. I’ve been trying to calculate Fixed Overhead Efficiency variance.
Budget prod. 13,120u Actual prod. 12920u
Budget fixed o/h $45,920 Actual fixed o/h $48400
Budget labour hrs 26,240 Actual labour hrs 25,200I took Budget labour hours 26240/budget units: 13120u=2hrs
Then took actual prod. 12920u x2hrs=25840hrs.But I do need a standard rate, how do I calculate it, please? or my thinking is not right?
Thanks@dreamersk said:
Please can you explain further as I am totally lost as to how question 2 should be answered. The answer in the mock exam is 18 636 units which confuses me even more.Hi. I think, I finally got it:) In order to achieve a profit of £144,000, with a contribution of £10.56 and fixed cost of £52800(which is Product X: 10000unitsx2.88 + Product Y: 12500unitsx2.40, but minus Y specific fixed o/h of £6000) you get Total Contribution of £ 196796, divide by contribution per unit of £10.56 you get 18636 units, when you round it up. I have done the same logic previously, but for some reason couldn’t get the correct answer.
Please let me know how to calculate the below Q’s:
1. A Co is intending to produce a new product. They have made two test units, the 1st took 8hrs, and the 2nd took 6hrs. What is learning rate?
2. E Co makes 2 products X and Y
SP 24 19.20
Materials 8.40 9.60
Labour 3.60 2.40
Var.O/H 1.44 0.96
Fixed O/H 2.88 2.40Profit per unit 7.68 3.84
Budgeted production: X: 10000 / Y: 12500 units
The Fixed O/H included in X relate to an apportionment of general O/H costs only. However, Y also includes specific fixed cost of $6000. If only X were to be made, how many units would need to be sold in order to achieve a profit of $144000?
Great lectures, thanks a lot. I went through all of them, and I am a bit confused. In Q5 of the specimen exam paper Labour efficiency operational variance has been calculated as: Actual hrs worked and Rev.Std.hrs for actual production and cost out per Orig. Std Cost of $12. However similar Question in December 2012, cost out per Revised Std. of $11.40. Do we cost out per Original Std. Cost or Revised Std. Cost?
Thank you.
Thank you. I also noticed when you click Fix, you get a decimal as well. Great! thanks again.:)