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On the budget I didn’t add the 5% labour efficiency cost reduction. As it was controllable by the manager he should get credit for it. It wasn’t a planning variance.
Can anyone remember the three questions for Section B…?
I remember there was one on variances, musical instruments and my mind is blank for the last one!
I studied hard for this exam, but I think I failed! The style of questions is what really made it more hard to understand and apply the calculations. A lot of throughput calculations!!
My mind went completely blank, I even forgotten how to do the planning and operational variances!! So gutted!!
Some questions appear as though there were missing figures/information in order to apply the calculations like the flexed budget question for section C.
Down side, there were a few environmental questions which I simply guessed!!
I had. Yes, it looked too easy. A lot of time was on the description of the pricing strategies
This is my third attempt already!!
Anyone think going to lecture classes at BPP or Kaplan and attending revision classes would be more beneficial?
P.S I only watch lecture videos and don’t practice pass exams or practice questions.
My workplace is planning to fund my education after new year, I’m afraid the Finance Director might see my exam results history. 🙁
Is it just me or does anyone else forget pretty much a lot of things that were learnt after exams or in a short period of time.
I feel that if I do end up failing again, I will need to relearn everything and spend so much time again.
Yes indeed it was pretty much same technical exam
Do you or any one remember the roi and ri ans in section C
And what section C q1 marginal costing and revenue@dontreeg said:
I found all the questions in Section B very difficult especially the Nuclear factory and the theatre one. I thought I was quite well prepared for variances but couldn’t even do those.My exact thought…i studied that topic down to the last minute..thought i was well prepared..but
I was pretty well prepared with variances but couldn’t do them in the 10 points question. Unbelievable. I even noticed a mistake in the question for sales variance- the profit for the second material was written 25 price, 15 variable cost, contribution 5
I presume there are different questions for the exam even if it was sat at the same time? I knew the papers differed from AM to PM but didn’t expect the questions to differ in the same sitting.
Sosa
In the flexed budget did you apply the formula for variable costs
Cost allowance x actual units/budgeted units?@tyjac said:
I studied hard for this exam, but I think I failed! The style of questions is what really made it more hard to understand and apply the calculations. A lot of throughput calculations!!My mind went completely blank, I even forgotten how to do the planning and operational variances!! So gutted!!
Some questions appear as though there were missing figures/information in order to apply the calculations like the flexed budget question for section C.
Down side, there were a few environmental questions which I simply guessed!!
Exactly my thought
@sosa said:
I did a flexed budget. .for six months which involved dividing most figures by 2 with the assumption that sales revenue and costs are generated/incurred evenly throughout the year.Then i adjusted for the three items in the notes (eg material costs falling by 10% in the beginnig of the year meant total direct material costs * 0.9 then divided by 2 to get flexed costs)
After flexing everything, i compared flexed results to actual for the variances. The total of all the variances should be equal to the difference between standard flexed profit and actual profit in the table.
Did you apply the formula for variables:
Cost allowance x actual units/budgeted units.Yes, part C was easy because all 4 pieces in part B were very time-consuming. Hopefully, the worst answered wouldn’t count.
I found it very hard overall…probably failed. The budget part C I was very pushed for time did the revised budget for the level of activity and revised it for the changes in the notes but then realized afterwards I probably shouldn’t have made the changes for materials and labour as I think these were both controllable by the production manager, I didn’t have to time to go back and change though coz had to get onto the next questions. Think I got a few marks on talking about why we need to revise the budget atleast.
@tyjac said:
This is my third attempt already!!Anyone think going to lecture classes at BPP or Kaplan and attending revision classes would be more beneficial?
P.S I only watch lecture videos and don’t practice pass exams or practice questions.
My workplace is planning to fund my education after new year, I’m afraid the Finance Director might see my exam results history. 🙁
Seriously? You wonder why you’ve failed two times already. Practice questions and exams are key to passing. Your FD isn’t making a sound investment if he does pay. You aren’t putting in enough work. Are you sure accountancy is right for you? You don’t seem motivated.
Material weren’t controlled by the manager, the new price was via the purchasing manager. I double checked this myself and referenced it in the next question.
The question with margin of safety was horrible. Like most people I studied hard and practiced many question from online past papers u name it and had a practice kit. I want to see what will be acca review on these questions. These people set this exam with an iron heart.
@missboo said:
Pretty good for me. Not hard at all but a few marks dropped no doubt. Panicked at the control statement but it was just a flexed budget with variances. I do the variances at work anyway. Few practice questions came up on beyond budgeting so should pick up a mark or two for that even if I was sketchy.Got the three Es but I can’t see any practice questions which cover this. Again I do similar at work so it should be ok. Covered spend per capita, % solves crimes, spending per solved crime for efficiency and some employee no.s per case etc. Then summarised.
The nuclear power station was tricky because the numbers were so large. Had the bikes one which was fine – last minute change as realised it wasn’t sales mix then quantity but total quantity. Had the ties and hats questions. Section A was easiest.
Surprised (relieved) no minimax regret etc. Or value of information. But no profit maximisation. Lots of learning curve which was good. The equity question was tricky, I got an answer somehow working out interest then debt first.
Hey wanted to ask that the Section C question you are talking about was for Revised Budgetary control statement, or was it a different question?
Even I was about to make a mistake regarding the bikes question first q was regarding sales mix and the 2nd about sales quantity dont know what went through my mind ended up doing sales volume variances, corrected last moment.
There was a q in section B though regarding Demingo and Luna divisions something regarding throughput and bottleneck do you happen to remember any answers to those?
Also remember what you got the Equity as. I feel like it was 10,000 something I could be wrong. But with the help of interest cover ratio and using Operation profit (before tax and interest) there was profit after tax and interest as well. I feel like i got that question correct. It was a very different question. But i remember in one of the examiner’s report there was a similar sort of question but it involved operational gearing@missboo said:
Material weren’t controlled by the manager, the new price was via the purchasing manager. I double checked this myself and referenced it in the next question.Even so, I think the budget has to be adjusted with the new price,
And the manager will not be kept responsible for the variance. Otherwise we should prepare a separate budget for every manager’ responsibility.
This is my logic@darciecoco said:
Can anyone remember the three questions for Section B…?I remember there was one on variances, musical instruments and my mind is blank for the last one!
Hi, it seems we almost had the same questions for Section B. I remember 1 q was for Bikes regarding sales mix and quantity variance. 1 q regarding demingo divisions and throughput and bottleneck. 1 q regarding the concert to be held that included the private box with 10 seats. and 1 q had environmental costs. Honestly the environmental and demingo questions were confusing. Hopefully i got most of them right.
What were you section C questions?@tasbihak said:
Hi, it seems we almost had the same questions for Section B. I remember 1 q was for Bikes regarding sales mix and quantity variance. 1 q regarding demingo divisions and throughput and bottleneck. 1 q regarding the concert to be held that included the private box with 10 seats. and 1 q had environmental costs. Honestly the environmental and demingo questions were confusing. Hopefully i got most of them right.
What were you section C questions?I seemed to get quite different questions…!
I got a variance one but not about bikes, but it was really hard (and I was fairly confident with variances). 2nd one was about musical instruments costings / mark ups. 3rd one was about a florist using minimax regret and decision trees. Haven’t seen anyone with these questions…!
C questions were optimal pricing / marginal revenue and marginal costing and about three EE’s.
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