To be honest, this exam is not really difficult..shhy8029 said:how did you guys go today?
multiple choice part was piss easy, almost 10 questions on variances and easy CVP crap
T-ledger was ok,
ABC...what the fark is 'overhead costs allocated according to a units product allocation base?!?!?!?' I think i lost many marks there.
Decision making was alright...lol chicken breast and wings on fire
and lastly the short answer part...I think I got around 8-10 marks out of 24. never studied theory.
Thank god there wasn't any question on variable and absorption costing...
gswinnie said:To be honest, this exam is not really difficult..
but have too much tricky things..i think..haha!
Especially for the joint product one..
I still doubt that....we have to calculate all part of the product, then add up the chicken breast and wings only.
The $150 only allocate to the chicken breast and wings only?
For the ABC, 'overhead costs allocated according to a units product allocation base?...
If I am not wrong, we have to calculate the predetermined overhead rate first..which is $1.1 then add this $1.1 + Direct material + Direct Labour, then you'll get the answer!
Feel upset because of uncertainty!
Haha..thanks for giving me so much comfort here..haha!shhy8029 said:WOOT! I got it right!(maybe?) i got a predetermined overhead rate of $1.1 haha...I just added them along with DM and DL for the unit cost, and x150% to get the sales price.
And for the joint cost allocation part, I'm pretty sure the question stated to get the costs of 'special shipments' only. So i only used two products, breast and wings, 20kg and 10kg respectively to allocate the joint cost. You'll get $110+$40 and $100+$50 under two methods..I don't know, I could be wrong from scratch..and the third part where it asks you to recommend, I didn't recommend any methods since everything comes from one product(chicken in this case) so the amount of joint cost will end up the same amount regardless of methods you use. hopefully i get full marks in this part..I did just so bad in other parts...