*** F5 March 2016 Exam was.. Instant Poll and comments ***

What did you get for the overall Labour Rate & Efficiency Variances and when they are broken down into Planning and Operational variances what did you get?

Mine was more like

Q5 part 1 – 2 marks

Overall Labour and Efficiency were both unfavourable/adverse

Labour Efficiency

Planning – Adverse
Operational- Favourable

Labour Rate

Both Planning and Operational were adverse

Few mcqs I remember:

Logical operation for confidential information:
1)Data encryption
2)Antivirus.
3)Segregation of duties
4)Internal usage policies

Second was on value engineering. I guess all the statements were correct. So option D I guess.

Third I remember was in which cost drivers were asked that are not volume related. I guess one was production runs. Cant remember the other. Because material and labour wasn’t the correct option.

Then there was a question on sales mix and quantity variance. If im not wrong, it was 400 adverse.

Fifth was on relevant question. My answer was twenty sevent thousand and something. Or it was 29 thousand. Can’t remember exactly

First mcq, answer was C because. MIS system are the only one that provide extensive information. I was confused with executive, but then I remember that executive sytems do provide information but that is not extensive. That question was copy paste from a becker mock I guess.

What are your thoughts people.

@yashikmaharaj@gmail.com said:
It won’t be an issue, they will mark all your answers in the paper.

It won’t be an issue, they will mark all your answers in the paper.

yes std rate per hr is 4

@flapper84 said:
For the labour rate planning variance I compared the number of hours paid at $14 per hour with the revised rate of $14.28 and recorded an adverse variance of $0.28 x the number of hours worked (can’t remember the number of hours)

Labour rate operational variance was favourable because the actual rate paid was lower than the revised rate but overall the variance was adverse.

The labour efficiency was adverse for planning but favourable for operational, the total labour efficiency was favourable which was remarkable given the additional time it was supposed to take for the new design.

yes that is exactly what I did.

std rate per unit is14

The paper was fair, only that students are good at spotting and become disappointed when what we expected dont come in the exam

I found the aspect of inflation challenging to me and that of lost contribution in lifecycle costing

some of MCQs:

1) One was related to outsourcing; my answer was “G only”
2) One was related to constraint, my answer was “Demand”
3) One question was about information security; my answer was “Anti-Virus & Encryption”
4) I did learning curve question wrongly, I calculated for 100 items and chose the answer, I should have done first for 100, then for 99 and difference between these 2 was the answer
5) There was one question for ABC, my answer was 74$/unit (I think)
6) MIS; my answer was a system to record transactions and management reports (something on these lines)

original standards were labour rate was $42/ hour and each pair took 3hours to make 12000pairs therefore in total 36000 hours were budgeted for and actual pairs being 12600 pairs for 37000 hours. the efficiency variance, the standard hours would be found by finding out how many hours 12600 pairs would have taken. i.e ((12600x3hrs/pair) and comparing it with actual 37000hrs)) x std rate $42/hour. at least that’s what i thought was needed. anyone who had the same answer??

The standard labour rate per hour was $14 not $42. it is 42/3.

Any one who got 91.25 for the ABC MCQ?

@christa316 said:
I am getting rather concerned now. I am seeing some answers saying the overall efficiency Was favourable. I got adverse for Both in the 2 mark question.

2 unfavourable planning
1 very favourable Labour efficiency (operational)
1 slightly unfavourable Labour rate (operational)

I got exactly the same as you Christa! And I normally considet variances as one of my stronger topics. My main concern was not including overtime, but I’ve seen many people ignored that aswell.

Either way, for such a big mark question, I’m sure we’ll get some.