Ib G Jun17 Accn2 Mark Scheme [ LIMITED ]

A critical part of the mark scheme is the "OF" mark. If a student makes a mistake in an early calculation (e.g., Cost of Sales) but uses that wrong figure consistently later in the paper (e.g., Gross Profit), they can still earn marks.

Many students applied margin to cost of sales instead of sales. The mark scheme reinforces: Margin is percentage of sales, mark-up is percentage of cost.

One of the most vital aspects of the is the "Own Figure" rule. Examiners use this to ensure students aren't penalized twice for a single mistake. Ib G Jun17 Accn2 Mark Scheme

To maximize your revision, avoid simply reading the mark scheme. Use it actively:

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Mark your own paper using the official scheme. Specifically look for tick points and where workings marks are allocated. The mark scheme reinforces: Margin is percentage of

Complete the June 2017 paper under exam conditions (usually 1 hour and 30 minutes).

| Part | Answer | Marks | Notes | |------|--------|-------|-------| | (a) | Contribution = £8; BEP = £40,000 / £8 = 5,000 units | 3 | 1 for contribution, 1 for formula, 1 for answer | | (b) | Contribution × 8,000 = £64,000 – £40,000 = £24,000 | 2 | OFR from (a) | | (c) | Actual sales 10,000 – BEP 5,000 = 5,000 units; margin of safety % = 50% | 2 | | | (d) | £45,000 / £8 = 5,625 units | 2 | | | (e) | Special order: contribution = £15 – £12 = £3 per unit × 5,000 = £15,000 additional profit. Accept if spare capacity exists. | 4 | 2 for calculation, 2 for qualitative reasoning (e.g., no effect on fixed costs, no regular sales loss) | | | 13 | |

is an essential resource for students preparing for accounting exams, particularly for mastering the application of financial principles like income statements and liquidity analysis. Key Features of the Mark Scheme Comprehensive Calculation Support