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so in question 5, whats the cost driver for maintanance costs?
does any one notice that bonus scheme was not included in the syllabus and it has been given/included in this time dont know why these peoples are doing this kind of thing? gvg such kind of question which is not included and its not new i saw on 2012 june exams they included such kind of things on question which is not in da syllabus…. this is ridiculous
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i think the driver was machine hours? the exam wasnt hard but questions 1-4 didnt have many practice questions. I was shocked that ratios, material variances, linear programming and limiting factor analysis never came up. i felt like most things didnt come up and everything that did wasnt taught. CVP
Answered Q2 first because i had thoroughly prepared for it. Got confused with the massive Labor Rate variance. But i hope to get by with at least 15 marks on this.
Q5 was next. A.B.C and traditional absorption costing was quite okay. Couldn’t do the analysis because of time constraint.
Q3. Balance performance was not answered too well. Hope i get some marks there
Q 4 Was quite difficult. Too much writing and no calculations. I did by bits though.
Q1 was a disaster! I attempted it last but i did not see my way through. This was unexpected.
Overall, i think i can manage with a marginal pass or a close fail.
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casper i took a similar approach to you. i got a big labour rate variance too!!!…
Have anyone found Breakeven revenues 1,777,777, or something like this?
have u calculate the contributon ratio :
1, 1.1 and 1.3 for each product?Question 1, 2, 3, 5 were nice standard questions.
The point per question guide seemed extremely low for the mathematical side of the paper, especially compared to past papers (approx 43% plus what was available for workings for question 3).
There seemed to be a huge shift towards opinion style questions.As for question 4, I wouldn’t be surprised if that was the lowest scoring question since this exam format started.
20 marks for budgets may have been a rounded question, specifically for rolling budgets and bonuses was tough, but only to focus on the problems/risks involved made it horrible. Even four marks for pointing out some benefits/advantages would have been nice.
It seemed like there were a few marks on this question for understanding exactly what they were telling you though… (well established mature business (should have been a mark or two for pointing out that a well set fixed budget would suffice) and some marks for anything mentioning the fact the accountant was only recently qualified and had a heavy work load?)Time was a massive problem for me.
I’m normally very organised, and despite finishing question 1 quickly, I really struggled to stay ahead of schedule.My poor arm!
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@valiaty said:
Have anyone found Breakeven revenues 1,777,777, or something like this?
have u calculate the contributon ratio :
1, 1.1 and 1.3 for each product?I got that same Breakeven revenue, however, rounded to 1,777,778 but don’t think they are bothered about rounding.
Did anyone get a labour rate variance of like >£60k? with a favourable operational and adverse planning?
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what did people get for their C/S ratios? and the Web co question, there were no calcs.. just working out percentage increase in sales etc. I dont understand what that was testing.
i got different from that …..contribution/sales was 0.45 ,0.35 n 0.23,
is it write or wrong. can anyone tell me?Total labour variance “Adverse”
Operational total adverse
and Planning total favourableI do not remember exactly the numbers
Standard Price= 6*1.5= 9
Revided S.P. 9 – 5% (because of the pay cut) = 8.55
the Revised Standard hours increased by 20%the production production manager performed well as the operational efficienc variance was favourable . (Operational rate variance was adverse , but total operational variance favourable)
Anone that agree?i got different from that …..contribution/sales was 0.45 ,0.35 n 0.23,
is it write or wrong. can anyone tell me?have u found the same brakeven revenue?
how the rank the products.
I rank them from the last to the first..the last one appears first in the graph , the second one second and the first one last ..
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My c/s ratios were not 1.1 1….. :(:(
oops I may have screwed up….my breakeven revenue was 1,684,211!
C/S ratio was 38% for mix (10:11:13) for selling prices of 100,120,160 and since all costs were variable contribution was SP-C. I might have messed up somewhere with the C/S ratio…..damn….
…back in June….Q1 – I also got around £1.7 m for the break even Revenue
Q2 – I thought this was okay but I couldn’t seem to work out the standard hours worked x the standard rate.
I got a really big variance too and this put me off as I thought it must have been wrong! I was then struggling to comment as I thought that my variances were wrong!
Q3 – I thought this was okay but I don’t think I wrote enough for the 20 marks (only 2 pages)
Q4 – I didn’t really know what a rolling budget was (although I should have revised this) I found it quite hard to comment on appropriate incentive schemes as I didn’t even know that this was in the syllabus? I suggested that bonus scheme should be as a whole rather than individual managers assessed.
Q5 – I just couldn’t get my head around transfer pricing and even the simple ABC I struggled with so think I may have lost marks there. It confused me how they had to overheads relating to machines, I think it was machine production runs and machine maintenance costs. I wasn’t sure how to work out the exact cost driver, was it mach hrs x prod runs x units?
This was a very discursive paper and overall I don’t think that I’ve done enough to pass but fingers crossed.
I’m gutted learning curve didn’t come up!
@ayeshahabib said:
My c/s ratios were not 1.1 1….. :(:(maybe I am wrong then 😉 do not worry for you. it is just what i have done..
Also with questions 1 I ranked them in the order that they were i.e highest cont was C then it was S and then D… did anyone else get this?
Q1a. Did anyone reduce sales by 10%, I didn’t personally but the question was ambiguous.
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@donsantosh i got the same c/s ratios as you. and then i did cumulative revenue/profit in the order of these and plotted those figures on the graph. There was only 1 or 2 questions in the BPP P&R kit so didnt have much to go on!
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all the questions were ambiguous!
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@valiaty said:
Total labour variance “Adverse”Operational total adverse
and Planning total favourableI do not remember exactly the numbers
Standard Price= 6*1.5= 9
Revided S.P. 9 – 5% (because of the pay cut) = 8.55
the Revised Standard hours increased by 20%the production production manager performed well as the operational efficienc variance was favourable . (Operational rate variance was adverse , but total operational variance favourable)
Anone that agree?I thought the SP was 6 & each batch used 0.5 hours?
I don’t know – just hope I manage the magic 50 that is all I’m hoping for as found it a tough exam!
I calcuated a different bit on Variances and started on the wrong side
but for the 20% slowdown and 5% cut I worked out (24,000/2*1.2) =14,400 revised hours. 6-5% for 0.5hrs was 5.7*2=11.4. Coincidently when one devides 136800 actual labour costs by 12000 actual hrs worked it comes to 11.4 which seems right since there was no idle time…..
I screwed up the order though and instead of going from planning to operational and then to actual at STD cost I did it the other way around…
…anyway …as I said…back in June….
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