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Ask for question 15 of F5 Revision Mock Exam

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › Ask for question 15 of F5 Revision Mock Exam

  • This topic has 5 replies, 3 voices, and was last updated 7 years ago by John Moffat.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • November 22, 2015 at 3:54 am #284425
    hake304
    Member
    • Topics: 2
    • Replies: 4
    • ☆

    Dear tutor,

    I cannot anwser the question 15 of F5 Revision Mock Exam:
    A company produces units that should take 1.5hrs to make. The standard rate is $15/hr. Idle time is expected 10% of hrs paid.
    They actually produce 20,000 units. They pay $520,000 for 38,000hrs, of which 3,000hrs are idle. What is the labour efficency variance?

    Please help me to solve it!

    BR,

    November 22, 2015 at 8:55 am #284454
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51532
    • ☆☆☆☆☆

    Have you watched the free lecture on advanced idle time variances – if not then I suggest that you do 🙂
    (Our lectures are a complete course for Paper F5 and cover everything you need to be able to pass the exam well)

    The actual hours worked are 38,000 – 3,000 = 35,000 hours
    The standard hours for the actual production are 20,000 x 1.5 hours = 30,000 hours.
    So they are inefficient by 5,000 hours.

    These are costed at the standard rate per working hour. The standard rate of pay is $15 per hour, but because of the 10% idle time (and therefore 90% standard working time per unit), the rate per working hour is 15/0.9 = $16.666 per hour.

    Therefore the efficiency variance – 5,000 x $16.666 = $83,333 adverse.

    November 22, 2015 at 12:23 pm #284521
    hake304
    Member
    • Topics: 2
    • Replies: 4
    • ☆

    Thank you so much!
    And I will watch the free lecture as you suggested. ^^

    BR,

    November 22, 2015 at 12:48 pm #284536
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51532
    • ☆☆☆☆☆

    You are welcome 🙂

    November 22, 2015 at 6:28 pm #284637
    Fidelka
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    1) https://www.accaglobal.com/content/dam/acca/global/PDF-students/acca/f5/exampapers/F5-2015-jun-q.pdf

    These are 2 Blocks of June 2015 F5 questions. MCQs are included in questions, but there are no answers.

    Can anybody help with MCQ answers?

    November 23, 2015 at 7:07 am #284664
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51532
    • ☆☆☆☆☆

    Sorry – I do not have them.

  • Author
    Posts
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