LCCI Level 3 - Advanced Business Calculations (Exam Kit)

B S
LCCITHI
RD LEVEL
ADVANCED BUSI NESSCALCULATI ONS
EXAMINATION KIT (
2019EDITION)
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)9G6A8;9 *FD=A;DD +6?8F?6E=BAD
Qbhf 11
2F;DE=BA )ADH;C /6C>
0F@7;C
$ !2" !8" Opening balance = £2,823.28 + £2,580.00 = £5,403.28 Cr !,$"

0F@7;C
Deposit made on 25 September = £2,810.78 ! (£176.72)
$ !2"!88" !,$"
= £2,987.50

0F@7;C
$ !3" Interest per day = 1.5% / 365 = 0.004109589% !-$"
Number of days = 5 days !-$"
Interest = 0.004109589% x 5 x £2,810.78 !-$"
= £0.578 !,$"

0F@7;C
Interest charged = £176.72 x 14 x 8% / 365 = £0.5423
$ !4" !-$ ,$"
= £0.542

0F@7;C
$ !5" Interest earned 4 September to 12 September
= £2,823.28 x 8 days x 1.5% / 365 = £0.928 !-$"
Final balance
= £2,810.78 + £0.666 + £0.928 - £0.542 + £0.578 !-$"
= £2,812.41 !,$"

0F@7;C
$ !6" Charge as a multiple = £30 / £0.5423 = 55.3 !-$ ,$"
1>B2; 7>@ /C6AB8>= $ ! $& <2@9A
&('$!!$
#)"%
Qbhf 12
0F@7;C
% !2" Number of units purchased = £130,000 / £65 = 2,000 !-$ ,$"

0F@7;C
Percentage yield per annum = £10,920 / (£130,000 x 3)
% !3" !-$ ,$"
= 2.8%

0F@7;C
% !4" Income per unit = £10,920 / 2,000 = £5.46 !-$ ,$"

0F@7;C
Total charges = (0.1% + 0.2%) x £130,000 + £1,040
% !5" !-$ ,$"
= £1,430

0F@7;C
% !6" Total charges per cent = £1,430 / £130,000 = 1.1% !-$ ,$"

0F@7;C
% !7" Net income = £10,920 ! £1,430 = £9,490 !-$ ,$"
1>B2; 7>@ /C6AB8>= % ! $% <2@9A
&('$!!$
#)"%
Qbhf 13
0F@7;C
& !2" !8" Contribution per unit = £275 - £145 = £130 !,$"

0F@7;C
& !2"!88" Break even = £715,000 / £130 = 5,500 units !-$ ,$"

0F@7;C
& !3" Break-even chart:
Scales from 0 to 2500 units, and from £0, covering half or !,$"
more of the page area.
Two straight lines, one starting at (0 units, £0), one !,$"
starting at (0 units, £154,000)
Both lines correct, from 0 units to 2,500 units or more. !,$"

0F@7;C
& !4" !8" 1,400 units !,$"

0F@7;C
& !4" !88" £420,000 !,$"
&('$!!$
#)"%
Qbhf 14
0F@7;C
& !4" !888" £66,000 shown on chart !-$ ,$"

0F@7;C
& !4" !8D" 900 units shown on chart !-$ ,$"
1>B2; 7>@ /C6AB8>= & ! $% <2@9A

0F@7;C
Current ratio = Current assets = 26,520 = 2.4 : 1
' !2" !8" !-$ ,$"
Current liabilities 11,050

0F@7;C
' !2"!88" Borrowing ratio = Total borrowings = 93,800 = 0.56 !-$ ,$"
Net worth 167,500
OR:
Borrowing ratio = Total borrowings = 93,800 = 0.36
Net worth + mortgage 261,300

0F@7;C
' !2"!888" Fixed assets = £261,300 - £15,470 = £245,830 !-$ ,$"

0F@7;C
Gross profit = Net sales ! COGS = £490,000 ! £341,000
' !3" !8" !-$ ,$"
= £149,000

0F@7;C
' !3" !88" Net purchases = COGS ! opening stock + closing stock !-$"
= £341,000 ! £24,500 + £19,500 = £336,000 !,$"

0F@7;C
' !3" !888" Average stock = ½(24,500 + 19,500) = £22,000 !-$"
Rate of stock turnover = £341,000 / £22,000 = 15.5 !-$ ,$"
1>B2; 7>@ /C6AB8>= ' ! $& <2@9A
&('$!!$
#)"%
Qbhf 15
0F@7;C
( !2" Amount remaining after 2 years
= £6,000,000 ! £2,000,000 ! £2,500,000 = £1,500,000 !-$"
Proportion of year 3 inflow = £1,500,000 / £3,000,000 !-$"

= 0.5
Payback period = 2 years 6 months !,$ ,$"

0F@7;C
The investor can proceed with Project P, as the payback
( !3" !,$ ,$"
period is less than 3 years.

0F@7;C
( !4" Gross return per annum = £25,800,000 / 6 = £4,300,000 !-$"
Net return per annum = £4,300,000 ! £850,000 !-$"

= £3,450,000
Average rate of return = £3,450,000 / £15,000,000 = 0.23 !-$ ,$"

= 23%

0F@7;C
( !5" Internal rate of return
= (£50,000 x 0.08) ! (-£150,000 x 0.07) = 0.0725 = 7.25% !-$ ,$"
£50,000 ! (-£150,000)
1>B2; 7>@ /C6AB8>= ( ! $% <2@9A
&('$!!$
#)"%
Qbhf 16
0F@7;C
) !2" !8" Total liabilities = £403,000 + £450,000 = £853,000 !,$"

0F@7;C
Assets available for unsecured creditors
) !2" !88" !-$ ,$"
= £520,000 - £403,000 = £117,000

0F@7;C
Rate in £ paid to unsecured creditors
) !2" !888" !-$ ,$"
= £117,000 / £450,000 = £0.26 per pound

0F@7;C
) !2" !8D" Paid to unsecured creditor = £22,100 / 0.26 = £85,000 !-$ ,$"

0F@7;C
Total assets as a percentage of the total liabilities
) !2" !D" !-$ ,$"
= £520,000 / £853,000 = 61%

0F@7;C
) !3" Total owed to secured creditors = £690,000 - £350,000 !-$"
= £340,000
Assets available for unsecured creditors

= £350,000 x 0.41 = £143,500 !-$"
Total assets available for creditors !-$ ,$"
= £340,000 + £143,500 = £483,500
1>B2; 7>@ /C6AB8>= ) ! $& <2@9A
&('$!!$
#)"%
Qbhf 17
0F@7;C
* !2" !8" Total amount to be written off
!,$"
= £135,000 - £15,000 = £120,000

0F@7;C
Amount to be written off in the first year
* !2"!88" !,$"
= £120,000 / 5 = £24,000

0F@7;C
* !2" !888" Book value after one year £135,000 - £24,000 = £111,000 !-$ ,$"

0F@7;C
Accumulated (total) depreciation after three years
* !2" !8D" !-$ ,$"
= 3 x £24,000 = £72,000

0F@7;C
* !3" In the final 3 years, the depreciation of Machine B is !-$"
£111,000 - £15,000 = £96,000
Depreciation per annum = £96,000 / 3 = £32,000 !-$"
Original cost of Machine B = £111,000 + £32,000 !-$ ,$"

= £143,000

0F@7;C
Book value of Machine C after 2 years
* !4" !-$ ,$"
= £150,000 x (1 ! 0.44)2 = £47,040
1>B2; 7>@ /C6AB8>= * ! $% <2@9A
&('$!!$
#)"%
Qbhf 18
0F@7;C
+ !2" Chain base index:
2013 index = 100 x 110.4 / 115.0 = 96.0 !-$ ,$"
2014 index = 100 x 115.0 / 110.4 = 104.17 = 104.2 !,$ ,$@"

0F@7;C
+ !3" Number of items costing $4.95
= 300 ! (100 + 80 + 50) = 70 !-$"
Items Unit cost Total ($) !-$"

100 5.13 513.00
80 5.01 400.80
50 4.98 249.00
70 4.95 346.50
1,509.30
!-$ ,$"
Average cost per item = $1,509.30 /300 = $5.031

0F@7;C
+ !4" !8" Total cost = (50 + 40) x £3.56 = £320.40 !-$ ,$"

0F@7;C
+ !4" !88" Total cost of the further 40 units
= £320.40 ! (50 x £3.60) = £140.40 !-$"
Cost per unit = £140.40 / 40 = £3.51 !-$ ,$"
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K K K
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Page 269
Mark Scheme
April 2019
Pearson LCCI Certificate in Advanced Business

Calculations Level 3
(ASE3003)
Page 270
Question Answer Mark
Number
1 (a) Nominal value: RM100 x 468,140 / RM89 M1

= RM526,000 A1 (2)

Number
1 (b) Interest = RM526,000 x 3½ years x 2½% M1

= RM46,025 A1 (2)

Number
1 (c) Cost of shares = 180,000 x RM7.85 M1

= RM1,413,000 A1 (2)

Number
1 (d) Dividend per annum = 180,000 x RM9 x 5¼% M1

= RM85,050 A1 (2)

Number
1 (e) Increase in price: RM81 – RM67 = RM14 A1 (1)

Number
1 (f) Percentage increase per annum:

RM14 / (RM67 x 2½) = 0.08358208955 M1M1
= 8.4% or more accurate A1 (3)
Total for Question 1 = 12 marks
ASE3003
4 April 2019
Page 271
Number
2 (a) Preliminary calculations before graph:

Lines are: y = 700x (Sales revenue)
y = 1,000,000 (Fixed costs) M1
y = 1,000,000 + 300x (Total costs)
M1
M1 for each of the sales revenue and total costs equa-

tions, or correct placement within the chart.
A1 for X-scale in [0, 5,000)
A1 for Y scale in [0, 4,000,000) or less, but sufficient to
answer subsequent questions
A1 for intersection of lines with x in the range
(2,400 to 2,600)
A1 for correct intercept of total cost line
A4 (6)
ASE3003
5 April 2019
Page 272
Number
2 (b)(i) From the graph ONLY:

BEP estimated at 2,500 units A1
Condone answers in (2,400 to 2,600)
Sales revenue estimated at RM1,750,000 A1 (2)
Condone answers in (RM1,600,000, RM1,900,000)

Number
2 (b)(ii) Profit on sales of 2,000 units is -RM200,000 (i.e. a M1

loss of RM200,000) A1
Condone answers in (-RM225,000, -RM175,000)
Candidates should have read this from their graph,
showing suitable lines. No method marks for
calculations of cost, revenue, etc. Answer must be
expressed as a loss or negative figure. (2)

Number
2 (c) Labour cost: 29% of RM300 = RM87 M1

Materials cost: 2/5 of RM300 = RM120 M1
Overhead expenses = RM300 – RM87 – RM120
= RM93 A1(3)
Alternatively,
100% - 40% - 29% = 31% (M1)
31% x RM300 = RM93 (M1A1)
ASE3003
6 April 2019
Page 273
Number
3 (a) Annual cash saving: 6,000 x RM50 = RM300,000 M1
Quality Windows Ltd investment:

RM Discount NPV (RM)
Factor
Cost 1,250,000 1.000 (1,250,000) M1
Year 1 300,000 0.926 277,800
Year 2 300,000 0.857 257,100 A1
Year 3 300,000 0.794 238,200
Year 4 300,000 0.735 220,500
Year 5 300,000 0.681 204,300
_________
-52,100 M1A1
First M1 is for calculating the cash saving in each year.

Second M1 is for setting about the NPV calculation cor- (5)
rectly, including the investment cost at par and shown
as negative. A1 for any one of the yearly contributions
to NPV. Third M1 is for adding the figures. Final A1 is
for achieving the correct answer.

Number
3 (b) IRR =
((13600  8) − (−52100  6))
13600 + 52100 M1
= 6.414003… % = 6.4% or more accurate
A1
Alternatively, (2)
13, 600
6% + (8% − 6%)
13, 600 + 52,100 (M1)
= 6.414003… % = 6.4% or more accurate (A1)
ASE3003
7 April 2019
Page 274
Number
3 (c) The NPV of the investment is negative at 8% (A1).

Therefore, the director should not proceed with the in-
vestment (A1).
A1ft
Also accept explanations that with small changes to
output or time value of money (A1), the NPV might be A1ft
positive, thus making the investment worthwhile (A1). (2)
Also accept explanations that with such comparatively

small NPV values (A1), there is no compelling argu-
ment in favour of the investment, even if the NPV were
positive (A1).
Also accept explanations that an IRR of 6.41% means

that borrowing money at 8% (A1) for investment is
likely to lead to a loss (A1).
Question Answer
Number
Mark
3 (d) Return per annum net of repairs and maintenance:

RM 2, 050, 000
− 25, 000
5 M1 (num)
= RM 1, 750, 000 M1 (den)
= 0.22
Return is 22%.
A1
Alternatively, (3)
2, 050, 000 − (5  25, 000)
(1, 750, 000  5) (M1 num)(M1 den)
= 0.22
Return is 22% (A1)
ASE3003
8 April 2019
Page 275
Number
4 (a) Express scrap value as a fraction of initial cost:

£85,000 / £750,000 = 0.11333333 M1
Per annum: 5√0.11333333 = 0.6469512145 M1
Rate of depreciation: 1 - 0.6469512145 M1
= 0.3530487855 = 35.30487855%
Accurate to two decimal places: 35.30% A1

(4)

Number
4 (b) Year Annual Cumulative Book value at

Depreciation (£) Depreciation year end (£)
(£)
0 - - 750000
1 262500 262500 487500
2 170625 433125 316875
3 110906.25 544031.25 205968.75
4 72089.06 616120.31 133879.69
M1 for 750,000 x 35% = 262,500.

M1 for correctly calculating cumulative depreciation by
adding each annual figure to the previous cumulative
figure
M1 for correctly calculating each book value figure by
subtracting cumulative depreciation from initial cost.
A1 for a fully correct answer.
Allow all figures rounded to the nearest pound here,

and subsequently in (c)(i) and (c)(ii). (4)
ASE3003
9 April 2019
Page 276
Number
4 (c)(i) Book value at end of Year 4 using 35.30%

depreciation:
= £750,000 x (1 - 0.3530)4 = £131,425.12 M1A1
Difference is £131,425.12 - £133,879.69 M1
= -£2,454.57 (condone £2,454.57) A1
Alternatively,
£85,000 (Scrap value)
= Year 4 Book Value / (1 - 0.3530) M1
which gives: Year 4 BV = £131,375.58 A1
so difference = £131,375.58 - £133,879.69 M1
= -£2,504.11 (condone £2,504.11) A1
(4)

Number
4 (c)(ii) Difference is -£2,454.57

Correct figure is £131,425.12
Percentage error is -£2,454.57 / £131,425.12 M1

= 0.01867656655 = 1.867656655% A1
Allow 1.9%
Alternatively,
Difference is -£2,504.11
Correct figure is £131,425.12
Percentage error is £2,504.11 / £131,425.12 M1

= 0.01905351123 = 1.905351123% A1
Allow 1.9% (2)
ASE3003
10 April 2019
Page 277
Number
5 (a)
Industry Weight Index WI M1 for any
Energy and 350 106 37,100 correct WI
water figure
Manufacturing
Industries:
Chemicals 70 81 5,670
Engineering 90 110 9,900
Food and Drink 210 130 27,300 A1 for all
correct WI
Textiles and 80 119 9,520
Clothing
∑WI = 89,490 M1
∑W = 800 M1
Hence index for 2019 is ∑ / ∑

WI W
= 89490/800 = 111.8625 M1
Accept 111.9 or 112 only for accuracy mark A1r
(6)

Number
5 (b) New index for 2019 = (111.9 x 130) / 100 M1

= 145.47
Accept 145.5 or 145 only for this calculation. A1r
If candidate uses 112:

New index for 2019 = (112 x 130) / 100
= 145.60
Accept 145.6 or 146 only in this case. (2)
ASE3003
11 April 2019
Page 278
Number
5 (c)
For manufacturing, ∑ WI = 89,490 – 37,100 =
52,390
Alternatively, candidate may use 5,670 + 9,900 +
27,300 + 9,520 = 52,390
For manufacturing ∑W = 450 M1 (both)
Hence manufacturing index for 2019 = 52,390 / 450 M1

= 116.4222222…....
Accept ONLY 116.4 or 116 for accuracy mark A1r (3)

Number
5 (d) The computer manufacturing company’s index is 134,

while the overall index is 116 or 116.4. A1ft
Therefore the increase in production has been much
higher than the average, and the company is
performing well. A1ft (2)
ASE3003
12 April 2019
Page 279
Number
6 (a) (i) Liabilities = £64,750 + £153,250 M1

= £218,000
Assets as a percentage = £95,400 / £218,000 M1
= 0.4376146789 = 43.76146789%
Accept answers rounding to 43.8% or better. A1 (3)

Number
6 (a) (ii) Paid to unsecured creditors = £95,400 - £64,750 M1

= £30,650 A1 (2)

Number
6 (b) Oguri is the secured creditor. A1

He received proportionately more than Yamada. A1 (2)

Number
6 (c)(i) Yamada is the unsecured creditor. M1

Her rate is £7,260 / £22,000 = 0.33 M1
= £0.33 in the £ A1 (3)

Number
6 (c)(ii) Oguri is both a secured creditor and an unsecured

creditor.
Let the amount owed to Oguri as a secured creditor
be S.
Then, S + 0.33 (18,000 - S) = 7,200 M1
Thus 0.67S = 7,200 – 5,940 = 1,260 M1
Amount of secured debt = £1,260 / 0.67
=£1880.5970149 = £1,880.60 only A1(3)
(This is actually a recurring decimal with 33 digits in
each recurrence, but we will settle for pounds and
pence!)
ASE3003
13 April 2019
Page 280
Number
7 (a)(i) Interest earned
= RM28,000 x 0.0375 x 3 M1
= RM3,150 A1 (2)

Number
7(a)(ii) Interest rate over three years:
1.03753 - 1 = 0.1167714844 M1
Interest earned: RM28,000 x 0.1167714844 M1

= RM3,269.601563 rounds to RM3,269.60 A1
Also accept answers, correctly calculated, using a value

rounded to 0.117 or better in the calculation.
Also, where candidates calculate year to year:

Year 1: RM28,000 x 1.0375 = RM29,050
Year 2: RM29,050 x 1.0375 = RM30,139.37
Year 3: RM30,139.37 x 1.0375 = RM31,269.60
Interest: RM31,269.60 - RM28,000 = RM3,269.60
In this case, M1 for all yearly balance calculations, M1
for calculation of interest by subtracting principal, and
A1 for final value.
(3)
ASE3003
14 April 2019
Page 281
Number
7 (b) Interest earned:
Balance Days Product Cr/Dr
1,500 4 6,000 Cr
1,350 3 4,050 Cr M1 (any)
1,196 8 9,568 Cr
446 7 3,122 Cr
1,596 2 3,192 Cr
Totals 25,932
Interest earned is
25,932 2.25

365 100 = RM1.5985 = RM1.60
M1
Interest payable:
Balance Days Product Cr/Dr
504 6 3,024 Dr
Interest payable is
3, 024 13.5

365 100 = RM1.1185 = RM1.12 M1
Total interest payable to Kuroki RM1.60 – RM1.12 =
RM0.48
A1 (4)
M1 mark for calculation of RM1.12 to include
indication that this is to be deducted from the interest
earned on other days of the month.

Number
7 (c) Figure brought forward is
RM1,596.00 + RM0.48 – RM150.00 = RM1,446.48

M1A1 (2)
ASE3003
15 April 2019
Page 282
Number
8 (a)(i) 3x + 2y = 6.9 (Eq 1)

x + 4y = 7.2 (Eq 2)
M1
Multiply Eq 1 by 2: 6x + 4y = 13.8
M1
Subtract Eq 2 x + 4y = 7.2 M1
Gives 5x = 6.6
Thus, x = 1.32, so weight of one GTX card is 1.32kg. A1 (4)
Alternatively,
y = (6.9 -3x)/4 = (7.2 - x)/ 2 (M1)
27.6 - 12x = 14.4 - 2x (M1)
gives 10x = 13.2 (M1)
x = 1.32kg (A1)
Alternatively, the equations can be used to solve first

for y, by multiplication of Eq. 2 by 3, for example.

Number
8 (a) (ii) Substitute in Eq 2: 1.32 + 4y = 7.2 M1

Thus, 4y = 5.88 M1
y = 1.47
A1 (3)
Weight of a Mega-pixel card is 1.47kg
Alternatively, if y was found in (i), then substitution

into Eq 1 will derive a value for x in this part.
Where candidates have not manipulated the equations

correctly in (a)(i), but carry out correct manipulation in
this part in order to solve one of the unknown
variables, method marks normally attributable to (a)(i)
may be awarded in this part.
ASE3003
16 April 2019
Page 283
Number
8 (b) If Qdemand = Qsupply, then

750 - 5P = -240 + 6P M1
Hence 11P = 750 + 240 = 990 M1
Thus Price = RM90 A1 (3)

Number
8 (c) Substituting back in the supply equation.

Qsupply = -240 + (6 x 90) M1
= 300 video cards A1 (2)
Alternatively, substituting in the demand equation.

Qdemand = 750 – (5 x 90) = 300
= 300 video cards
ASE3003
17 April 2019
Page 284
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Page 331

LCCI Level 3 - Advanced Business Calculations (Exam Kit)

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Number of days = 5 days !-$"

Interest = 0.004109589% x 5 x £2,810.78 !-$"

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= £2,823.28 x 8 days x 1.5% / 365 = £0.928 !-$"

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= £341,000 ! £24,500 + £19,500 = £336,000 !,$"

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Rate of stock turnover = £341,000 / £22,000 = 15.5 !-$ ,$"

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Proportion of year 3 inflow = £1,500,000 / £3,000,000 !-$"

Payback period = 2 years 6 months !,$ ,$"

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Net return per annum = £4,300,000 ! £850,000 !-$"

Average rate of return = £3,450,000 / £15,000,000 = 0.23 !-$ ,$"

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Depreciation per annum = £96,000 / 3 = £32,000 !-$"

Original cost of Machine B = £111,000 + £32,000 !-$ ,$"

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1>B2; 7>@ /C6AB8>= * ! $% <2@9A

2013 index = 100 x 110.4 / 115.0 = 96.0 !-$ ,$"

2014 index = 100 x 115.0 / 110.4 = 104.17 = 104.2 !,$ ,$@"

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Items Unit cost Total ($) !-$"

2F;DE=BA )ADH;C /6C>

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Cost per unit = £140.40 / 40 = £3.51 !-$ ,$"

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