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F5 exams today was ok but not all that easy as some people have been saying.
Questions number 1,2,3 and may be 4 was ok but required a lot of time. Question 5 was a bit confused. My question is; how many people were able to manage their time well to answer all the questions? For all the comments I have read so far everybody is talking only about Linear programming which they say a bit easy and is only 20 marks and how can you get the rest of 30 marks to pass F5.
Anyway OpenTuition has done a good job especially John and I hope to get 50% but not easy, let all face the fact. Lol!!!!- Topics: 0
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@passfirsttime said:
I was happy enough with the the paper until I read all these comments.
I said the shadow price of tailors time was nil because there was slack – the line was outside the optimum.
I also go a really wierd shadow price for material.
I go confuses with the idle time in the variance question and the different figures for production and sales.
Even the ABC question seems to have gone wrong as I stupidly sugested ways other than costs + instead of talking about skimming, penetration etc. How could I have done something so stupid.
Q5 is a blur as I was out of time and my writing was crazy.
Glad I looked at this – otherwise I would have spent the summer thinking I passed and would be bitterly disappointed in August.
Overall, it looked easy on the surface, but there were some curve balls.Sorry to say mate. But there was no slack as the optimum point was the intersection of the labour and material constraints, That will explain your stange results for the shadow price.
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@shane1988 said:
I did not have much trouble like you guys with Q5, i answered the last part stating that the manager could have unethically changed the figures for lateness so he hits bonus, and changed figures for member visits – to again trigger bonus… explained a bit as i wasnt sure why 5 marks was given!Well… actual changing the data in the computer is not only unethical but straightforward fraud.
I think the exeminer (Ann Irons) was thinking in a different line.
I have given an example that in the 4th qtr the manager was only one training short from his target to get his bonus for that period. He can give that lesson away for free and get his money. It is unethical since it will incur cost for the company without having a corresponding income. It would not be done to boost sale but only watching his own interest.Yes, the question said ‘manipulate’, which implys that he would do something like hold a new membership rather that something fraudulent or illegal.
@edinapr said:
Well… actual changing the data in the computer is not only unethical but straightforward fraud.
I think the exeminer (Pami Bahl) was thinking in a different line.
I have given an example that in the 4th qtr the manager was only one training short from his target to get his bonus for that period. He can give that lesson away for free and get his money. It is unethical since it will incur cost for the company without having a corresponding income. It would not be done to boost sale but only watching his own interest.It is so obvious to me now!
Thanks.@4152marky said:
Sorry to say mate. But there was no slack as the optimum point was the intersection of the labour and material constraints, That will explain your stange results for the shadow price.- Topics: 0
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i relied on the tips and i’m glad i did!!
God bless opentuition!!!!!- Topics: 0
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@keeva said:
Ref. shadow pricing — I hope I remember correctly the figures:
7W+5L = 3500
2W+2L = 1201 (if I calculate it for tailor’s time)
Solve this, and obtain a shadow price of $4. Together with the normal rate of $1.5 it gives a total of $5.5, more in comparison with the tailor’s offer….so…accept the offer! This was my answer….Hi, I also have answered to accept the tailors offer since they were only asking $3 extra above their regular rate. The regular rate was included in the original calculation. That was lower than the shadow price. But interestingly I got $8 as a shadow price.
C=48W+40L
The original product mix was 350 W and 250 L that gave me $26800 contribution. The new product mix after the labour hour was increased by 1 the new product mix was 351W and 249L. That gave me $26808. The difference is $8. So now… how did you get the $4?I found 4/5 of the questions OK.
The shadow pricing question was a disaster for me though as I just didn’t get to grips with it.
Anyone know when the question paper goes online?
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THE PAPER WAS BIT TRICKY …..SMALL CALCULATION…….MORE DISCSION…..PAPER WAS NOT JUST EASY IT WAS TRICKY……….I TOTALY MESSED UP WITH Q5…….I TOOK LAST 45MINS ONLY FOR THIS QUSTION…….I WASTED 30 MINS TO UNDERSTAN WHAT THE EXAMINER EXACTLY WANT TO ASK………WELL DONE MR.DAVID……YOU PREPAPRE THE EXAM WITH HARD WORKING…AND WE ALSO HAVE DONE IT WITH LOT OF PAIN……..HOPE EVERY ONE CLEAR THIS EXAM…BEST OF LUCK EVERY1…………
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@vickylucky said:
THE PAPER WAS BIT TRICKY …..SMALL CALCULATION…….MORE DISCSION…..PAPER WAS NOT JUST EASY IT WAS TRICKY……….I TOTALY MESSED UP WITH Q5…….I TOOK LAST 45MINS ONLY FOR THIS QUSTION…….I WASTED 30 MINS TO UNDERSTAN WHAT THE EXAMINER EXACTLY WANT TO ASK………WELL DONE MR.DAVID……YOU PREPAPRE THE EXAM WITH HARD WORKING…AND WE ALSO HAVE DONE IT WITH LOT OF PAIN……..HOPE EVERY ONE CLEAR THIS EXAM…BEST OF LUCK EVERY1…………We got the warning: On the success CD they said that the exeminer is passionate about Non Financial Performance Indicators. We should have thought about the Q5 as managers not as accountants. Then it would have been very easy. It was similar to some of the MBA exam questions though. I liked it. It was different.
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hey guys, actually found it ok but on question 4 did people just calculate the marginal cost plus 40% in part a…..then in part b calculate the total cost including fixed plus 10%? this one confused moi………….
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The paper was fair indeed – I don’t think we shall ever see an easier exam for F5!!!
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my shadow prices wer 24 and 8!
for materials, making w was more benificial as it was miking more cntribution per unit of material i.e 48/2 > 40/2, so more w shud b produced. by 1 unit of material, 0.5 w could b manudactured, giving a contributn of 24 i.e 48 x 0.5. so shadw price of material is 24.
for labor, making L was more benificial as contributn per limiting factr was higher fr L i.e 40/5 > 48/7. by 1 hour of labour, additional 0.2 units of l could b produced giving a contributn of 8 i.e 40 x 0.2! so shadw price of labur is 8!
i think detaild calculatn was req fr 6 marks, and i hope my is correct!
for part c, 300 additional hours wer required!
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my shadow price was 10 for fabric and 4 for tailor hr
i also found taht this paper was an okay one.time management was the key. let’s hope the results relect what is being said. thanks OT.
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there must have been a consensus to change the exams to be more theoretically based
My paper was just very average but my preparation didnt really deserve anything much better I guess.
Q1 and 2 were really easy and I expect to score 35 marks in them and it’s prolly necessary if I am to pass.
I did not do transfer pricing, so prolly wont get much at all in the theory parts of Q4 even though I still wrote whatever I felt appropriate. Q5 I think I got the first 2 parts right but really could not think about the last part, it was “manipulation” and not outright fraud and I couldnt really think about anything.
Q3 which I decided to attempt in the end was an outright disaster. I was only able to do the first part and I am not sure if I got it right, I forgot how to do simultaneous eQuations lmao but I think I may have got it right.
I think I did get about 70% of the paper pretty spot on but cant possibly be sure and getting 50 from it wont be easy, it’s gonna be close, will prolly get somewhere fromn 45-55%.
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@keeva said:
Hi! I think the exam was pretty easy… unfortunately, I didn’t have enough time to study, but I hope to pass..
Ref. shadow pricing — I hope I remember correctly the figures:
7W+5L = 3500
2W+2L = 1201 (if I calculate it for tailor’s time)
Solve this, and obtain a shadow price of $4. Together with the normal rate of $1.5 it gives a total of $5.5, more in comparison with the tailor’s offer….so…accept the offer! This was my answer….Omg, i got the shadow price being $4. as well, but i said don’t accept the offer because the normal rate times 3 which was $4.50 was more than the amount mgmt was willing to pay for an extra unit.
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fail
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hello everyone. can anybody tell me what question-2 asked? it was about “nails”
and calculating the cost and therefore marginal cost+pricing and full cost+pricing.
does anyone know what were all the parts?and in question-1, while doing ABC, i used labour hours as the cost driver for property costs. is that correct?
as far as question-5 is concerned, i had no time left to complete it and therefore just did half of the first part 🙁 … rest all questions were just fine… i guess if i get enough marks in the varience, ABC and Linear Programming questions which went well for me, i will be able to get enough marks from (Nails-GC-EC) to pass this exam. may God help us all.
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shorty20 said 2 hours, 16 minutes ago:
@keeva said:
Hi! I think the exam was pretty easy… unfortunately, I didn’t have enough time to study, but I hope to pass..
Ref. shadow pricing — I hope I remember correctly the figures:
7W+5L = 3500
2W+2L = 1201 (if I calculate it for tailor’s time)
Solve this, and obtain a shadow price of $4. Together with the normal rate of $1.5 it gives a total of $5.5, more in comparison with the tailor’s offer….so…accept the offer! This was my answer….Omg, i got the shadow price being $4. as well, but i said don’t accept the offer because the normal rate times 3 which was $4.50 was more than the amount mgmt was willing to pay for an extra unit
I DID THE SAME THING U DID i.e, REJECT THE OFFER… but i did in a different way. i calculated the total cost for overtime. then i re-calcultated the contribution by adding extra hours. then i deducted the OLD contribution from the new one and the extra contribution was a little less then the costs incurred for overtime. I GUESS THIS WAS RIGHT TOO… 🙂- Topics: 0
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@keeva said:
Hi! I think the exam was pretty easy… unfortunately, I didn’t have enough time to study, but I hope to pass..
Ref. shadow pricing — I hope I remember correctly the figures:
7W+5L = 3500
2W+2L = 1201 (if I calculate it for tailor’s time)
Solve this, and obtain a shadow price of $4. Together with the normal rate of $1.5 it gives a total of $5.5, more in comparison with the tailor’s offer….so…accept the offer! This was my answer….
to me this doesn’t make sense. maybe i’m wrong but can u or anyone explain a little if this is correct?- Topics: 0
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i think that mix and yield variance will 100% got…feel dissappoint…:(
however,i think f5 this time not very hard..i hope that for 50% also…==- Topics: 0
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my answer was to negociate the offer futher:
Because:
-normal overtime is only Time and a Half( normally)…..
– further implication of acceptance is that labour will want similar are even higher OT rate
-Cs is a business( takes the risk of business) and therefore should reap majority of the benefits not labour
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