BEC Study Group – Q1 2018 - Page 7

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  • January 8, 2018 at 8:31 pm #1691137
    jenpen
    Participant

    @maggie I can completely relate with your problem! I felt like that last window with REG & BEC. I ended up going into BEC knowing I had weak areas and it didn't end up working for me, so now I'm doing it again. Just remember that you can't change what you've already done with the last exam and try and put it out of your mind, as hard as that may sound. Focus on what you need to do to learn BEC and know that if you don't pass, it's not the end of the world, but at least you can say you gave it your all and try again.

    @shanil The last few weeks I've basically been following the Wiley planner to get through the material, so just whatever lessons were on the schedule for the day. Now I'm hitting review mode and hammering questions again until my test next week. If you feel like you're losing information, then take a day off from new material and go back and review or hit questions on those topics. I would recommend at least once a week doing that so you can keep the material fresh, and just add to it each week with the new stuff you've learned.

    AUD - 56 - 68 - 61 - 9/8/16
    REG - 75
    FAR - 7/15/16
    BEC - TBD

    Wiley CPAexcel and NINJA 10 Point Combo

    January 9, 2018 at 5:14 pm #1691356
    maggie
    Participant

    Hi Jennifer, Thank you for cheering me up. Yes, let’s stay focused on passing BEC. I noticed this is your last part (hopefully it is also mine). Best of luck to your exam!

    January 10, 2018 at 3:50 pm #1691701
    worryingCPA
    Participant

    Hello,

    The Ninja Notes mentioned that Under/Over-Applied Fixed Overhead always goes to COGS. But couldn't Under/Over-Applied Fixed Overhead could go to WIP, FG, or COG (especially under absorption cost)?

    Could anyone help explain this, please?

    Thank you.

    January 10, 2018 at 7:35 pm #1691744
    houston2017
    Participant

    Can someone please help me with understanding this problem:

    A company sells 1,500 units of a particular item each year and orders the items in equal quantities of 500 units at a price of $5 per unit. No safety stocks are held. If the company has a cost of capital of 12%, its annual cost of carrying inventory is

    $150

    $180

    $300

    $900

    The solution says: Average inventory level × Unit cost × Cost of capital = (order size / 2) × $5 × 0.12 = (500 / 2) × $5 × 0.12 = $150.

    I'm trying to understand how one would know the question is asking for the average inventory level? They're making 3 orders a year not 2 right?

    January 10, 2018 at 8:35 pm #1691765
    jenpen
    Participant

    @houston2017 Since there is no safety stock held and they order 500 at a time, 500 would be used to find the average inventory, which is why it's divided by 2. So the average inventory is 250. Hope that helps!

    AUD - 56 - 68 - 61 - 9/8/16
    REG - 75
    FAR - 7/15/16
    BEC - TBD

    Wiley CPAexcel and NINJA 10 Point Combo

    January 10, 2018 at 9:13 pm #1691783
    Shanil
    Participant

    Thank you Jennifer I will try that. I have gone back in my Beckers review and went back to chapters 1-3 and hit them up I guess on the last day of the week I should plan on staying later and doing a review test for the last chapters that I've studied…?

    January 10, 2018 at 10:57 pm #1691837
    KeepPressing
    Participant

    Hello,

    I am relatively new to the CPA Prep life and just passed Reg in Q4 of 2017. I am currently prepping for BEC but man o man am I overwhelmed by all the calculations and formulas. I am using Becker. Any ideas or guidance would be appreciated! I thought BEC was supposed to be the easier, but I am finding it way way harder than REG.

    January 10, 2018 at 11:16 pm #1691843
    jenpen
    Participant

    @KeepPressing I agree, BEC is super hard. Don’t underestimate it. For me, I work best by utilizing as many MCQs as possible. Working through the formulas while answering questions helps me understand how the formulas work and helps me remember them. Others use flash cards or rewrite the formulas multiple times. It’s luck of the draw on how many calculation questions you get, but make sure you know how they work and you should be ok.

    AUD - 56 - 68 - 61 - 9/8/16
    REG - 75
    FAR - 7/15/16
    BEC - TBD

    Wiley CPAexcel and NINJA 10 Point Combo

    January 11, 2018 at 9:52 am #1691926
    Boose
    Participant

    Well, today is the day. Time to get this ball rolling and get one step closer to becoming a CPA.

    January 11, 2018 at 10:23 am #1691932
    jenpen
    Participant

    Good luck, @Boose!!

    AUD - 56 - 68 - 61 - 9/8/16
    REG - 75
    FAR - 7/15/16
    BEC - TBD

    Wiley CPAexcel and NINJA 10 Point Combo

    January 11, 2018 at 2:53 pm #1692016
    Adambomb
    Participant

    I'm taking BEC in Feb 2018 and I'm using Gleim. Right now I am on study unit 7. I do alright in general on the MCQ exams but the sims are killing me. Anyone else have similar issues?

    BEC 46 2013
    AUD 53 2012
    FAR 61 2012, AUG/2015
    REG 74 2011

    I'm starting over but not giving up!

    January 11, 2018 at 3:43 pm #1692034
    Tim
    Participant

    @adambomb

    Yep, many of the sims in the BEC section are just beyond ludicrous. I wouldn't spend too much time on them. If you are having trouble figuring them out just submit and check what they did. Some units I got below 50% on the sim and it still marked the unit as completed so I could move on to the next one.

    It's weird because the FAR sims weren't so crazy.

    January 11, 2018 at 6:56 pm #1692092
    Adambomb
    Participant

    @Tim

    I've only had that happen, once so far. Usually, I have to do it a couple times before I pass the study unit. Are you still sitting on the 15th? Good luck if you are. Did you just use Gleim to study with?

    BEC 46 2013
    AUD 53 2012
    FAR 61 2012, AUG/2015
    REG 74 2011

    I'm starting over but not giving up!

    January 11, 2018 at 8:17 pm #1692125
    Tim
    Participant

    Yep, I'm taking it on Monday and used Gleim exclusively.

    January 11, 2018 at 8:40 pm #1692136
    Boose
    Participant

    Lmao I have a feeling that went very poorly. Keep studying hard guys.

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