[jeff]

Welcome to the Q4 2017 CPA Exam Study Group for BEC. 🙂

Introduce yourselves and let your fellow NINJAs know when you plan to take your BEC exam.

The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[houston2017]

@Maria the writing portion is only worth 15% I'm not sure how you can pass on the writing alone. That doesn't make much sense.

[Maria]

Lol. I meant good grades in the written portion on the exam not in the total exam itself. 🙂

[houston2017]

@Maria then yes. If you restate the question within the answer and stay on topic and use key words then yes you can potentially get a really good grade on the writing portion. My weakness was the TBS/MCQ when I took BEC last month. I did the pointers I suggested and my writing portion on the diagnostic was considered “Strong”. I hope that helps! The writing is actually very easy.. You can BS. I only spent 30-40 min on it. The topics are straight forward if you know the material at hand.

[job895]

Hey guys,

My BEC exam is scheduled for November 13 and I'm starting my review process tomorrow. I've been using Becker and I have their Final Review, and I also purchased NINJA Sniper. How should I go about my review process? I failed FAR by 22 points in August so I clearly didn't review properly and I need to learn from that mistake. Any advice?

Thanks
Jim

[Pam]

I'm retaking BEC tomorrow… I got a 73 in April (kill me!). I've been doing MCQ and reviewing notes for the last 3 weeks (I took AUD on 10/6 so started the weekend following that).

I'm doing OK on some of the chapters, rounding out 5 and 6 this morning. I have re-written almost all flash cards, but I don't feel as prepared and I'm terrified of (1) not passing and (2) doing worse than April.

Any tips? I ran through some simulations (that's what did me in last April) but since it took so long for the scores it's been almost 6 months since I really studied hard.
Help!

FAR – 67 (retake November)
Reg – 77 (expires April 2018)
BEC – 65, 73, (retake October)
AUD – 10/6/17

[Anonymous]

@Pam I would just focus on the TBS. Sounds like you did everything else. Good luck!

@runegoblet3xx, can you give some sample question that Becker didn't cover on? I thought they did okay on B2?

@Maria, I would focus on the TBS. Writing just emphasize keywords and use proper grammar and you'll be fine.

[jmavallone5]

Hi Everyone,

I am taking my exam next Monday, Novemebr 6th and was wondering if anyone had any helpful tips for the final review and how to structure this last week.

Thanks!

[fblessed777]

@pam, I would encourage you to do TBS on AICPA sample test. Wish you good luck!

[murd]

More COSO and IT questions than I thought…don't forget to study that. Most of my math came in the TBS.

[Pam]

OK I think I'm just losing my mind but I can't get to where the total cost was calc'd here:
Kimbeth Manufacturing uses a process cost system to manufacture….
UNITS
Beginning WIP 16,000
Stated in prod 100,000
Completed 92,000
Ending WIP 24,000

Beg. Inventory was 60% complete for materials and 20% complete for conversion costs. The ending inventory was 90% complete for materials and 40% complete for conversion costs
Cost pertaining to the month:
Beginning Inventory: materials $54,560; direct labor $20,320; and FOH $15,240
Costs incurred: materials used $468,000; direct labor $182,880; and FOH $391,160

Using Weighted Average, the total cost of the units in the ending WIP inventory at the end of the month is:

I can't figure out where the total cost is coming from, I'm OK on the units:
Actual Units % complete Eqiv. Units Total Costs
Materials 24,000 90% 21,600 99,360
Conv. Cost 24,000 40% 9,600 57,600
Total 156,900

where did 99,360 and 57,600 come from?

[Anonymous]

@pam

Becker solution was sort of backward, but this is how they got it:

21,600 x 4.6 = 99,360
9,600 x 6 = 57,600

[fblessed777]

@pam, when using average costing, first determine EFU units and, then the unit cost per EFU.

1) Average EFU units = unit Completed this period + Ending Inv.
Material = 92,000 + (90% * 24,000)= 92,000 + 21,600 = 113,600 EFU
Cost of material = Begining cost + Incurred this period
= 54,560 + 468,000 = 522,560
Unit cost per EFU = $522,560/113,600 = $4.6
Therefore, ending material cost = ($4.6 * 21,600(EI)) = $99,360
2)Average EFU units for conversion costs = units completed this period + End. Inv. for CC
=92,000+(40% * 24,000) = (92,000 + 9600) = 101,600 EFU for CC
CC = All DL + FOH, Begining + incurred this period = $609,600
Unit cost per EFU for CC = $609,600/101,600 = $6.00. Hence, EI cost = $6 * 9600 EI units = $57,600
Therefore, total cost of ending invetory = DM + CC = (99,360 + 57,600) = $ 156,960

[jeff]

Ask the NINJAs: Material isn't Sticking – 25% Average Score

Ask the NINJAs: REG Material isn't Sticking; 25% Average Score

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[jeff]

Ask the NINJAs: 2017 CPA Review Materials on 2018 CPA Exam

Ask the NINJAs: 2017 CPA Review Materials on 2018 CPA Exam

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Paige]

jmavallone5 I took the exam October 20th, definitely look through ninjas IT multiple choice, I found it to be much more helpful on the exam than Becker.

[Author]

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