AQA Business Studies BUSS1 - 14th May 2012!

Yeah thats what i did - I hope we're right in saying it was a 3 month question as everyone else seems to think otherwise and im getting worried lol i just dont recall seeing a question that states we have to work anything out for a whole year

here is every question in todays exam:

1a, what is meant by the term fixed costs

1b, calculate the total added value that zoe expected to recieve from party bags in the first three months of her business (nov11-jan12)

1c, calculate zoes budgeted profit or loss from her first year of trading (nov11-oct12)

1d, explain two problems that zoe faced in estimating her expenditure budget accurately

1ei, the new total cost line after the increase in variable cost

1eii, the new break even point

1eiii, the new forecast profit as a result of the increase in variable costs, based on zoes estimates of 225 parties

2a, analyse two possible reasons why zoe chose to use personal finance rather than a bank loan.

2b, zoe believed that she conducted her market research well to what extent do you agree? justify your view

2c, in may 2012 zoe stated the business is failing to reach its target at the moment but the reasons have been outside of my control do you agree with zoes statement justify your view

How did you do 1c ? And 1b ,?

Hi, I found the exam quite tough today. I was fortunate enough to be able to obtain a spair copy of my work as I write my exam on a computer. Attatched are my answers as written in the exam. Lookig for general overall feedback from people. I wasn't able to answer 1c or 1e and 1b was handwritten so not on attached file however I believe i got 1125 for that question.

Please reply over how well you think i Answered the questions

Thanks

completely messed up the break-even question. except for that, I thought it was alright, dunno if i've done enough to get an A though...anyways about the break even question, I spoke to a friend who was fairly confident that you had to divide 70 by 50 = 1.4 then multiply each quarters total variable costs by that, or something along those lines anyways..

I thought the budgeted profit and loss question was for three months?

im pretty sure it said the budgeted profit was for three months 2...however people are saying different did you get 34500?

I posted my copy of my answers on the previous page in a PDF would appreciate what you guys think of them and a predicted grade. Thanks!!

Can't quite remember what I got but pretty sure the question didn't specify for a whole year!

I read your answers sound prettty good my answers were no where nearr up to that standard aha i reckon you got an A straight up you seem to know your stuff so wanted to ask was the target market for her parties children or adults cos on the market research question i put she should not of asked adults cos they wouldnt have knowlege of the market and also they are not really her target market children are.. is this incorrect??? Sorry for the long post

The target market was parents. The consumer would have been kids in this scenario. Normally, children can't afford to pay entertainers for their parties so parents do that for them; what kind parents they were indeed! :-)

Value added was for the first three months of trading; the budgeted profit or loss was for the whole year i.e. total income minus total expenditure.

Alex is good at this, correct with both
I didn't really mention a target market in mine though, oh well

Value added was for the first three months of trading; the budgeted profit or loss was for the whole year i.e. total income minus total expenditure.