*** ACCA F5 March 2017 Exam was.. Instant Poll and comments ***

ohh that was worse of alll.. i couldnt find the answer to the first question! selling price of the equipment, had to guess it 🙁

the second one was okay i think.

@anano said:
I agree, I thought, accountant-related part was key part in question. I think revised budget means adjusted budget. Accountant was responsible to set new price and new quantity of material. Budget would be prepared with old standarts, because new standarts weren’t updated.
But everyone here has solved Q31 with planning and operational variances, so maybe I’m wrong.

i agree, i didnt see any need of operational or planning variance here, we just had to recalculate the old budget costings (before it was changed) to compare it with actuals because the question said the accountant had not adjusted for the changes in the standard cost. meaning they werent revised. idk though. as per my understanding my mind never went to operational/planning variances in that question

I got 260 for necklaces. Anyone else get that?

I interpreted that to mean had he had a chance to adjust the standard cost card there would have been no revised (as the changes would be the standard if you get me) I think you guys are right though

Just seems a lot of marks for 2 variances but acca love a trick 😉

@passionate said:
ACCA is just cruel. Where do they get these mean examiners……the question that had these figures 10%, 9025 ,5%, 9783 what was it about by the way and what was the answer

i was so confused about this too… but guessed the answer to be B $3000 something as my answer was closer to that. anyone else who managed to get an answer here?

@micksymooresy16 said:
I interpreted that to mean had he had a chance to adjust the standard cost card there would have been no revised (as the changes would be the standard if you get me) I think you guys are right though

Just seems a lot of marks for 2 variances but acca love a trick 😉

if he would have had the chance to change the cost then that would have been the standard cost to compare with actual, that was the whole tricky part. thats why i saw no need of operational/planning variance. i calculated three variance and ‘assessed’ the production managers performance. i guess thats why the marks were more as you had to explain the variances too. dont know though? i might be wrong.

Why would they give 7 or 8 marks for 2 basic variances from f2?

I had seen a similar question before in one of the practices I had done and the answer scheme needed both the operational and planning variances to be calculated and under discussion to evaluate production manager’s performance, it was important to point out that the planning variances existed because the standard cost card was not updated and as such the production manager should not be held responsible for the adverse planning variances

It was horrible. I thought of that too but I decided on this approach because I reread the question a few times and it seemed like the school had decided on the design change and the material and the production manager did a good job of securing the material without any adverse variance but the favourable variance can’t be attributed to him either cause it was a planning variance based on the school’s choice of material…at least that’s what I wrote

I said he was responsible for the material purchasing as the q said he was responsible for all purchasing issues. so many ways to go wrong like.

I know, was just trying not to get too worked up over the p’s

Ans for 2 ques: i think its profit