[odean]

the painting was material both in the SPL and SFP. 1 mark for calculation and one mark for stating that it was material

It is a qualified report except for opinion. one mark,

stating that management refuse to amend the fs is one mark

[odean]

The audit report should be qualified except for. an a basis for opinion paragraph .

I dont think you get penalized for numbering or not numbering your audit risk. i dont number mine.

i dont remember that question about NED.

[odean]

you dont get marks for stating a standard

[odean]

it should be sold at 60% of the original cost. it should be scrapped if it is not sold

[odean]

there is no mark if you quote IAS standards. you will not be mark base on that

[odean]

Did anyone get the multiple choice about independency? I went Trish in the end who had retired 5 years ago, but wasn’t 100% sure… I feel like it was none of them.

Trish retired from the audit team not 5 years but 2 years ago, she will be more independent than the other. i choose Trish.

the last one who was a director and a major supplier to the company pose a threat to Independence such as close business relationship.

[odean]

@beloslava said:
Thanks for this one
it looks a lot like what i did, and i was beginning to thing it wasn’t right….
Now there is a small light at the end of that tunnel…tx

I thought my reason was incorrect at first. But when i review it, it make sense

[odean]

@justcasj said:
So there are two first Batches?. Thats how i saw it and assumed it was an increment. Remember in incremental tables the second batch is always represented as 1 unit. But I see your point

They are separated batch for each month.

To illustrate

September, say that you are working on a new project, generally it would take longer because you are new to the product e.g 400 hours

October, you are now more familiar with the same product, generally it would take less hours than when it was your first time e.g 320 hours.

The objective is to find the rate of learning, how quick do they work. Thats why you apply the step

[odean]

@justcasj said:
Hi Oden, I see where your coming from.
The way i saw it, there was an incrememtal increase between the first and second batch. I know in the table the second batch there was a 1 in the number of units produced. As it is an incremental increase, this represents the second batch!. from that point it accumilates. Hence the workings:

10368/32=324
324=400r3
0.81=r3
r=93.21%

Oh. I see your point it is not the second batch. there was no incremental

Remember that as cum ouput double the cum ave time fall by a given percentage

[odean]

@tuanpm102 said:
Maybe we did different questions because it clearly said that they produced 32 batches from Sept to Feb in my exam lol

If i remember clearly i thought 32 batch was from feb to September.
My reasons is that the learning rate start from September not from February

[odean]

@tuanpm102 said:
You are making me confused because isn’t the number of batches is 32 and actual hours worked is 10,384? It’s stated in the case

The question say for six month sept to February that would be 16 batch.
I can be wrong

[odean]

@dipta3308 said:
can anyone tell how u guys calculated the 31 question variance?

That was a trick question.

First you would have to calculate the revised standard using the learning rate of 85%
The question say after three month ( the 2 batch) the the product reach a steady state.

My reason was that i should find the nth batch of the remaining 14 batch (16 batch – 2 batch)

Y=400× 2 batch^0.234
Y=340.109 hours

Total hours for 2 batch (340.109 × 2 batch) = 680. 22 hours

Y= 400 × 1 bacth ^0.234
=400 hours

Total hours for 1 batch (400 * 1) = 400 hours

Therfore the nth batch is ( 680 – 4000) = 280.22 hours

Batch 3 onward would take 280.22 hours

Month 1-3 would take 680.22 hours
Month 3-6 would take 3923.08 hours ( nth batch 280.22 × the remaining 14 batch)
Total hours work 4603.3 hours

Revise standard is 4603.3 hours × $16 = $73652.80
Original standard is 400 hours × 16 batch × $16 = $102400
Planning variance is $28747.2 F

Revise standard is 4603.3 hours × $16 = $73652.80
Actuall hours worked is 5184 hours × 16 =$82944
Operational variance is $9291.20 A

[odean]

@natss said:
In question 31 I calculated learning rate 96%
400*32*r5=10368
r5=0.81
r=96%

How did you get 90%?

The second batch takes 360 hours
The first batch takes 400 hours

Therefore divide 360÷400 = 90%
Or

1 batch take 400 hours
1 batch take 320 hours

Add both batch and divide by 2. That is (400 +320)/2 = 360 hours
An then divide by the 1 first batch 400. That is 360÷400 = 90%

[odean]

@chrisj1 said:
Did anyone have a question on tables and chairs in section B? One question was how many tables should be produced in quarter 1, limiting factor was 25m3 of oak each table used 5m3….however, 4 tables was not an option so I selected the maximum demand.

If i remember correctly i thought the question ask how many chair should be produced. It was only one scare resources material and unlimited labour so you are correct it is a limited factor.

First you would have to rank the product based on return per scares resource. Chair was rank second, therfore table would be first.

I dont remember how many unit but i remember that only 12 meter was available for chair only and each chair use 0.2 meter

Therfore 60 chair should be produced 12÷0.2 = 60

[odean]

@tpara said:
Yes i did the same but i dont know why i got 59%

Maybe calculation error. Its good to check number question twice to avoid mistake like these

[odean]

@odean20 said:
That question was in section a cbe it is 57%

You should included the variable selling cost

[odean]

@tpara said:
What did you find for contribution\sales ratio? 51% or 59?

That question was in section a cbe it is 57%

[odean]

In section b throughput what was the TPAR.

[odean]

In section b throughput what was the bottleneck resources.

[odean]

The planning and operational variance was tricky thought. I got adverse for both

The economy,efficiency and effectiveness questions was straight forward

[odean]

@stoner7 said:
Learning rate is 90% for the actual performance, it stops in November i.e last seen effect of learning rate is in November. No effect of LR from December onward.

If it’s with respect to the hospital procedures, then procedure 1 increases and procedure 2 decreases.

I thought it ceased in December onward. I got 90 as well

[odean]

What do you get for the actual learning rate and c which month it ceases

[odean]

It was a high low methods to find the variable and fixed cost elements

V/C (235000 – 22000) / (14000 – 11000 units)
V/C 5 p.u

Tc= fc + vc
235000= fc + (5 × 14000)
235000 = fc + 70000
Fc= 165000

Therfore the semi variable for 12200 unit is
165000 + (5×12200)
165000 +61000
Tc= 226000

Ans B

[odean]

@schon1234 said:
………………………………it was written in the end that the machine can be used for other project which will give 110k profit

Remember profit is not a relevant cost.

Profit is non cash therfore not relevant

[odean]

@rajeshram said:
What’s the answer for the rolling budget sum? Was that 890?

I get that as well

[Author]

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