I thought that was a horrible paper for P2, and hardly any of the syllabus was covered!! Section B was the worst and I'll be lucky if I managed any point in there at all, not like any past exam papers I have been practising with! Now the question is do I resist in MArch when my baby is due 2 weeks later???

 

I think I did the same as you the 10 markers were OK,

Q1 with Learning curves I got 89.5% for the rate

the Q with flexed budget was good, can't remember what the others were but at the time thought they were good.

But the question with camera lenses for optimal price, then transfer price got me stumped - I wasted a lot of time thinking about it!

Then the one with shadow pricing for 6 marks was harsh, I only wrote 1 sentence! 

I just hope I did enough!

 

I got 89.5% as well, quite enjoyed that one to be honest.  

There were some reasonable questions in the 10mark section but I'm concerned if crashed and burned on the 25ers then it's goodnight Vienna.   

Tough & hard. I emailed to my tutor and he replied all the emails he got from his students said the same :-( 

Section A was good one..learning rate was 89.5%,participative budget was good, also plan 1 and plan 2 approach qstn..I went for plan 1.. Then also preventive,appraisal,external,internal cost was easy..flexi budgt threw me off..got it in the last couple of minutes..no workings but statment is shown.. Section B..whew..the transfer pricing part was so easy but scenario b was confusing.. Q6 was my worst..really annoyed at tht one..

My comment is same as all above,

first 5 ticking along feeling good,

new last two were tougher than i hoped for, no linear programming, revelant costing question that i was hoping for,

gave them a go, went wrong then corrected it, but ate up time doing so,

focused on things i could answer and , hoping to pass, if i do the 1st 5 got me there

good luck all Carl

This is my last exam before i can move on to strats.  This is the hardest exam i have ever sat.  Including all the past papers ive revised.  Which was the most recent 6 papers.

In Q1 i got 88.7% learning rate so not with the majority on that one. Great.

The JIT and Constant rate production thing i think ive messed up by going with the constant rate of production. Then after reading part b of this question where it says suggest other factors to consider i realised i probably should have suggested JIT.  Then i ran out of time. So my calcs here are probably all wrong.

Participative Budgeting - Think ive been a little too general in my answer here instead of relating it back to the scenario where it mentions new and current managers.

Flexed budget - Thought this was fair or hoping for over half marks on this anyway.

Quality costs - hoping for good few marks on this one. 

Section B - Awful.  Lots n lots of few markers that i spent far too long on. 

Overall a very time pressured exam i thought.

Wow - I'm so glad to hear its not just me who found that incredibly tough! P2 is my preferred paper from E2/F2 and doing past papers I found I could get 60% or above without problem - but this one was really difficult! There were some nice Section A question but unreal time pressure in Section B.

 I found F1 hard when I did but that's because I'm rubbish at F1 - this was disheartening!! Wish everyone the best! 

This is my second attempt at P2, I passed E2 & F2 first time but seeing from other ppls comments this is by far the hardest paper at managerial level. I have gone over all 11 past cima papers (including specimen paper) over the last few weeks along with the revision kit questions, do you think that had prepared me for section b today???? errr no!!!!!!   Why all of a sudden are we getting two different scenarios within one section b question? that just means more time wasted on reading the scenario, I also cannot remember ever seeing a question involving TP and Price/Demand such as Q7 (think I got it totally wrong as could not get my head around the question), this is a major problem because basic questions in the text book or even normal price/demand prior questions asking for optimum selling price arent going to prepare you for this. Also any question regarding shadow price have always been linked to multi limiting factors, the question today for six marks (Q6) was totally confusing all i did was explain what shadow pricing was, question was made more difficult due to the involvement of the components!!!! Agree with all of the above that section a was very fair albeit a few less written question than normal,  I got 43% in May and I dont think Ive passed it this time either (missed about 9 marks unanswered in section b) I really do not want to have to sit this again but cannot go anywhere until this has been passed, why is the scope to this syllabus so much greater than F2/E2 ???   

I got a similar amount for Q5. It does look ridiculous though especially if the total output for 3 products was given to be 14,000.

 

If break even volume= fixed costs/contribution per unit, then this is the correct answer unless there is something you and I have not picked up. The questions were so tricky.

 

Also re the minimum price PD was willing to pay, did anyone try to find the revenue by adding ( profit and var costs) and then divide by 500? This is what I did.

I thought the mimimum and maximum price either of them would be willing to sell/pay would be that which generated a profit that guaranteed them at least 12% Return on Assets. This is how I calculated it.

 Anyway never mind, I better start preparing for the resit :D

 

 

 

 

Another here with $1.56 and $2.00. I really hope they're correct! That's 7 marks.

Everything is going to help in section B. It was ridiculous, how are you supposed to prepare for that?  

Hi,

I feel the pain of this exam, I have already sat a few times and failed, this is the only paper stopping me from getting to strategic now. I didn't think the exam could shock me again I felt prepared until I saw section b, what a nightmare!  Just very time pressured and felt as though I really did not know what to write.  

I know we shouldn't expect the same questions over and over but this was completely different even to the point of making section b qn 7 into two questions just was not enough time to digest all the information and come up with a good answer.

Qn 1 I got 88.7 so your not alone, only I rounded to 89 as that is what previous papers had done in the model answers so hope that if this is right that I don't loose marks for rounding.

Fingers crossed! But have a feeling I will also being seeing this paper again in feb/march resist :-( 

What did you guys do for the question that asked for the breakeven for the products that were produced in a specific ratio?

 

I worked out the weighted averege price and weighted average contribution to get the contribution/ price ratio. I then divided the Fixed costs by this but ran out of time before I worked out the final quantities.

I really have no idea if i'm even close to correct but I had never seen this question before, not in class or in past papers. I thought i'd improvise and hope for some pitty marks!

Hi all

 as above I thought section A was ok, although there wasn't any JIT, functional analysis and any other wordy questions like previous papers. Section b however was horrendous. Having practised all forms of questions both completely through me off. Apart from the limiting factor rest were confusing. All the hard work didn't pay off as the questions were nothing like I've seen at the revision courses. TP mixed with pricing was a nightmare. Resit in feb/march :(