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Had difficulty in chapter 8 Kaplan absorption and marginal costing

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Had difficulty in chapter 8 Kaplan absorption and marginal costing

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.
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  • Author
    Posts
  • August 9, 2021 at 5:50 pm #630931
    hasanify
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    Was doing a practice question test your understanding 2 chapter 8 Kaplan asked to prepare statement of profit and loss I followed the given performa in the book but in the answer in cost of sales they only included opening inventory full production cost which was not in performa and closing inventory
    In cost of sale in performa they mentioned cost of sale as
    Opening inventory
    Variable cost of production
    Fixed overhead absorbed
    Less closing inventory

    August 10, 2021 at 7:30 am #630976
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51563
    • ☆☆☆☆☆

    I do not have the Kaplan text (only the BPP Revision Kit).

    Although the costs of sales is calculated as you describe as being printed in the book, you cannot ever be actually asked to prepare a statement of profit and loss in the exam.

    The statements are all explained in my free lectures on absorption and marginal costing. If you are watching the lectures then you do not really need a text book – the lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well.

    The essential book is the Revision Kit (Exam Kit), because it is full of exam standard questions for practice, and practice is vital to passing the exam.

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