Practice assessmentmodel answersManagement Accounting: Decision and Control (MDCL)Practice assessment 1Version 1.2 published 29 June 2020Copyright 2020 AATAAT is a registered charity. No. 1050724All rights reserved. Reproduction is permitted for personal and educational use only. No part of this content may be reproducedor transmitted for commercial use without the copyright holder’s written consent.
Practice assessment model answers – MDCLTask 1 (12 marks)AAT is a registered charity. No. 1050724
Task 2 (15 marks)AAT is a registered charity. No. 1050724
Task 3 (15 marks)AAT is a registered charity. No. 1050724
Task 4 (12 marks)AAT is a registered charity. No. 1050724
Task 5 (18 marks)Q(a)Model AnswerThe response below covers a range of possible points that you may include in yourwritten response. This example is not intended to be exhaustive and other validcomments may be relevant.Materials variancesThe general price of materials may have risen since the budget was set. Also, a higherquality of material may have been purchased to be used in the new machinery. Bothfactors would lead to the adverse price variance of 5k.The new machinery is likely to manufacture the finished product more effectively with lesswaste. Similarly, the new highly skilled labour will be able to handle the raw materialsmore effectively with less waste. Both will lead to a favourable usage variance (here 7k).Labour variancesThe new higher skilled workers will be paid a higher hourly rate. The redundancy costs forthe less skilled workers may have been included in this month’s wages costs. Both wouldexplain the 10k adverse rate variance.Higher skilled workers will be more efficient overall, capable of producing morecomponents per hour. They may also be highly motivated as they had just been recruitedto new roles. These would lead to a favourable efficiency variance here of 10k.Fixed overhead variancesThe 7k favourable expenditure variance can be explained by the reduction in rent andthe lower depreciation charge on the new machinery. Both would have reduced overallfixed overhead expenditure in comparison to the original budget.Bands01–45–89 – 12The efficiency of the new machine could improve productive capacity. Coupled with thehigher skilled labour, which is likely to be able to produce more in their working week,more units would have been produced than expected. Therefore the volume variance is 11k favourable.DescriptorNo response worthy of credit.Answer provides a very brief analysis of how recent events may have affected some ofthe variances. Points made have little relevance to the scenario and use of supportingevidence is limited. Responses cannot access higher bands if they do not address eachof the variances (materials, labour and fixed overheads).Answer provides a brief analysis of how the variances (materials, labour and fixedoverheads) may have been affected by recent events and a range of relevant points aremade. The response makes good use of evidence to support points made. Answerdemonstrates a good understanding of causes of variances. To achieve the highest marksin this band, the response will address all six detailed variances.Answer gives a detailed analysis of how all six variances may have been affected byrecent events, making fully relevant points throughout. Points made will be well supportedby evidence drawn from the scenario. A response that falls in this band will demonstrate asolid understanding of variances, how they can inter-relate and how they behave indifferent situations.AAT is a registered charity. No. 1050724
Q(b)Model AnswerThe response below covers a range of possible points that you may include in your writtenresponse. This example is not intended to be exhaustive and other valid comments maybe relevant.Material standards(2 marks)The standard material price may need to be amended to reflect different price of input material.If the material is of higher quality, the standard material usage may need to be reduced toreflect standard input material quantity is less for the new machine.Labour standards(2 marks)Higher skilled labour is likely to take less time to make each unit. Therefore the standard labourhours per unit could fall. They are also likely to have a higher wage rate and therefore a higherstandard cost per hour.Fixed Overhead standards(2 marks)The saving in rent on the storage facilities will reduce the standard fixed cost expenditure intotal. Additionally, any long-term increase in expected production levels will reduce thestandard fixed overhead per unit.Task 6 (15 marks)AAT is a registered charity. No. 1050724
Task 7 (18 marks)Q(ii)Model AnswerThe response below covers a range of possible points that you may include in yourwritten response. This example is not intended to be exhaustive and other validcomments may be relevant.If the company were to produce the total sales demand they would require 43,000kg ofmaterial (which they have) and 27,000 labour hours (which they don’t have).This means they need to make the best possible use of the scarce resource, in this case,labour hours.To do this we calculate the contribution per limiting factor and produce in order of the bestreturn in terms of the limiting factor. If we do not do this and produce any other quantity wewill have less contribution and therefore less profit.Optimal production gives contribution of 102,500 ( 35,000 67,500) whereas producingHyena first would give a contribution of 90,000.BandsDescriptor01–2No response worthy of credit.Answer provides a very brief discussion of the chosen production levels – this must belinked to the student’s response in part (i) of the task to achieve marks. Little or no relevantexplanatory points made for the consequences of choosing a different level of production.No mention on use of calculations to support answer.Answer provides a brief discussion of the choice in production levels, including asatisfactory explanation of the points made for the consequences of choosing a differentlevel of production. To achieve the highest marks in the band, the response will be linkedto at least one relevant factor in part (i). Limited use of calculations to support answer.3–5AAT is a registered charity. No. 1050724
6–7Answer gives a comprehensive and detailed discussion of the choice in productionlevels, demonstrating a solid understanding of the consequences. Points made forchoosing a different level of production are fully supported by relevant evidence and aredirectly linked to the student’s answer in part (i). To achieve full marks, the response will belinked to all relevant factors. Answer fully supported by calculations.Task 8 (15 marks)Q(b)Model AnswerThe response below covers a range of possible points that you may include in yourwritten response. This example is not intended to be exhaustive and other validcomments may be relevant.Using ABC leads to more accurate product costs using a fairer allocation of the overheadscharged. This leads to better decision making in terms of pricing, withdrawal of products,and production scheduling. It’s also believed that ABC leads to better managementunderstanding of the cause and allocation of overheads.AAT is a registered charity. No. 1050724
By identifying the cost pools, management are able to look at ways to achieve savings inoverheads in a more focused way. By using cost drivers, management can assesswhether product profitability can be increased by reducing the number of times a driver isused.Bands01–23–56–7The time taken to identify activities and install the system could be a disadvantage for thecompany. The cost of implementation and the cost of running the system may also be adisadvantage. Another disadvantage for the company could be any resistance to changethat they encounter.DescriptorNo response worthy of credit.Answer provides a very brief discussion of the advantages and disadvantages of ABC,demonstrating little or no understanding of ABC. It is unlikely that a response in this bandwill include more than two advantages or disadvantages.Answer provides a brief discussion of the advantages and disadvantages of ABC, goingbeyond the minimum stages given in a Band 1 response.To achieve the highest marks in the band, the response will correctly explain at least fourof the advantages or disadvantages.Answer gives a detailed discussion of the advantages and disadvantages of ABC. Toachieve the highest marks in the band students should cover at least six of theadvantages or disadvantages in their answer.AAT is a registered charity. No. 1050724
Task 1 (12 marks) Practice assessment model answers – MDCL . AAT is a registered charity. No. 1050724 Task 2 (15 marks) AAT is a registered charity. No. 1050724 Task 3 (15 marks) AAT is a registered charity. No. 1050724 Task 4 (12 marks) AAT is a registered charity. No. 1050724 Task 5 (18 marks) Q Model Answer (a) Materials variances The general price of materials may have risen since the .
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This practice assessment is one of a set of five AAT mock practice assessments which have been published for this subject. They are produced by expert AAT tutors to ensure real AAT exam style and real AAT exam standard tasks and ensure the best chance of success. All practice assessments are relevant for the current syllabus.
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