[jeff]

Post by Another71.

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

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

[Anonymous]

Thanks! I could get the 38.91 but didn't know what to do after that.

[Jordan_KSA]

Guys I screwed for one point in Business exam on last window for written communication part, Please I need your help

There was in writing one task difficult because I haven’t seen it in the book

It’s Saying (as I remember and if someone know anything about this task please help me to remember)

A Company production bicycles and is going to start a new line for production the accessories and spare parts , as a CFO please write for the Board your view and expectation for this

dose anyone know how this task can be written

[zoctoman]

Jordan. I am not sure on how to specifically help you with this written communication, but it is important to remember that the format of your writing is of much more importance than its contents. I had 1 written communication of which i knew absolutely nothing about, but I basically made up information and wrote like i knew what I was talking about.

If you get a topic that you don't “know” the answer to, just make up an answer in your mind and write it down like you mean it. Focus on using important transition words like “however” and “In addition to”. I used a tactic of finishing all of my essays with something like “please let me know if you have any questions” or “I hope this information helps you in making your decision”.

Good luck!

Audit(11/5/13) - 89
Reg(5/16/14) - 86
FAR(7/18/14) - 82
BEC(11/14) - 85

[Anonymous]

Jordan, you need to edit your post. When we take the exam, we agree not to divulge the questions being asked on it. Your post is a bit too specific.

With that being said, my understanding is that the technical portion of the written communications don't count for very much. Even if you don't understand the concepts behind the Written portion, you can still get nearly full credit for your memo. You just need to make sure that the memo is well written. It should contain an introduction, body and closing paragraph. There should be no, obvious, spelling mistakes. Grammar counts.

Spend the introduction restating their question. The body going over the details of the question being asked (a lot of times you can pull information straight from the question itself). And finally end it with an appropriate closing paragraph.

Hope that helps but remember to edit your post.

[Shani-Q]

Why is ‘C' the correct answer…i don't get it

The Jones Company is considering using a lockbox system. The company has gathered the following information:

The per-check processing cost will be $0.20.

The days saved in the collection process will be 1.2 days.

The average size of the check will be $1,000.

If funds are freed, they could be invested at a 5% annual rate.

On average, 150 checks will be processed per day.

Should the Jones Company adopt the lockbox system, and why or why not?

A.

Yes, since the company can earn 5% on the funds that are freed up

B.

Yes, since the company will save $5 a day over their current collection process

Correct C.

No, since the benefit to the company is $0.17 per check processed

[Shani-Q]

Please explain why answer is C

The Jones Company is considering using a lockbox system. The company has gathered the following information:

The per-check processing cost will be $0.20.

The days saved in the collection process will be 1.2 days.

The average size of the check will be $1,000.

If funds are freed, they could be invested at a 5% annual rate.

On average, 150 checks will be processed per day.

Should the Jones Company adopt the lockbox system, and why or why not?

A.

Yes, since the company can earn 5% on the funds that are freed up

B.

Yes, since the company will save $5 a day over their current collection process

Correct C.

No, since the benefit to the company is $0.17 per check processed

[Anonymous]

The cost of processing the checks through a lockbox system is more than what the company could earn if they invested the money sooner.

I'm not sure if I did it right but here's my math:

The company would collect the following: 150 checks at $1,000 for a total of 150,000. If that was invested it would earn $25 as the following ((150,000 * .05) / 360) * 1.2. Now $25 / 150 = .166666 (.17 rounded). Thus the cost .20 per check is more than the benefit of .17 per check.

[Anonymous]

I wish I would have scheduled my exam for this Friday (1/2) instead of next Friday. We have been slow at work so I was able to gain a lot of my review stage ground really quickly. I feel ready and just want to take this thing already. The long wait on this score release is going to be absolutely brutal.

[Shani-Q]

@Angelwatch Thanks.

[Anonymous]

I finished all of the lectures yesterday so I have, officially, entered the Review Phase. With that being said, there are some areas that I REALLY need to spend some time on in my review. Not surprisingly those are the Cost Accounting and Financial Management areas.

[Tarheelgirl]

A cost accounting question for everyone:

A processing department produces joint products Ajac and Bjac, each of which incurs separable production costs after split-off. Information concerning a batch produced at a $60,000 joint cost before split-off follows:

Separable Sales

Product Costs Value

Ajac $ 8,000 $ 80,000

Bjac 22,000 40,000

Total $30,000 $120,000

What is the joint cost assigned to Ajac if costs are assigned using the relative net realizable value?

A. $48,000

B. $52,000

C. $40,000

D. $16,000

FAR - 46, 79 (7/8/14)
AUD - 56, 59, 2/23/15 3rd times a charm!
BEC - 69, 74 Really??
REG - April, I hope. Fingers crossed!

[Tarheelgirl]

Column 1 – Product

Column 2 – Costs

Column 3 – Separable Sales Value

FAR - 46, 79 (7/8/14)
AUD - 56, 59, 2/23/15 3rd times a charm!
BEC - 69, 74 Really??
REG - April, I hope. Fingers crossed!

[Anonymous]

Answer A

NRV of A is 72,000 and NRV of B is 18'000 for a total of 90,000. 72 / 90 = .80. 80% of 60,000 is 48,000.

[Tarheelgirl]

Correct A. The NRV of Ajac is $72,000 ($80,000 – $8,000), and the NRV of Bjac is $18,000 ($40,000 – $22,000). Thus, the joint cost assigned to Ajac if costs are assigned based on relative NRV is $48,000 {$60,000 × [$72,000 ÷ ($72,000 + $18,000)]}.

FAR - 46, 79 (7/8/14)
AUD - 56, 59, 2/23/15 3rd times a charm!
BEC - 69, 74 Really??
REG - April, I hope. Fingers crossed!

[Anonymous]

Hey guys here is a question i found difficult

Brewster Co. has the following financial information:

Fixed costs

$20,000

Variable costs

60%

Sales price

$50

What amount of sales is required for Brewster to achieve a 15% return on sales?

A $33,333

B. $50,000

C. $80,000

[Author]

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