BEC Study Group Q1 2015 - Page 37

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  • January 28, 2015 at 2:12 am #655617
    Justdoit2014
    Member

    I gave BEC yesterday. The first set was a mixed bag, easy and hard. The second and third became noticeably harder. Too many computations and some were too wordy. Lot of focus on COSO, IT and the rest covered all the topics. Questions were quite tricky. Written computations were not bad, generally focused on topics within BEC. Gleim was a great help. Made me feel comfortable throughout the exam, no surprises!.

    Now the long wait begins, common 24th February!!

    FAR - 80 (Roger + Wiley TB) May 2014
    AUD - 82 (Roger + Gleim TB + Wiley TB) August 2014
    REG - 79 (Gleim + Gleim TB) November 2014
    BEC - 85 (Gleim + Gleim TB) January 2015

    January 28, 2015 at 7:27 am #655618
    fireblaze240
    Participant

    I took audit yesterday and have BEC signed up for end of feb. Any tips of what material i should focus on? >__<

    BEC - 78
    REG - In Progress..
    AUD - In Progress..
    FAR - In Progress..

    January 28, 2015 at 8:40 pm #655619
    Anonymous
    Inactive

    Fireblaze: The common sentiment is to know it all. But in particular it seems that COSO/Governance, IT / AIS, and Cost Accounting and the big “must knows” for this exam. But everyone seems to say that they see a little bit of everything on the exam.

    I take mine next Friday and I'll be posting my thoughts afterward.

    January 29, 2015 at 2:20 am #655620
    OnMyWay732
    Participant

    Saturday…high noon…I am beyond nervous

    AUD - July 2014 - 76
    REG - August 2014 - 82
    FAR - November 2014 - 78
    BEC - January 2015 - 81

    DONE!!!!

    Used Becker online. Who needs a text when you can burn your eyes out staring at the screen for months on end?

    "Let me tell you something you already know. The world ain't all sunshine and rainbows. It is a very mean and nasty place and it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain't how hard you're hit; it's about how hard you can get hit, and keep moving forward. How much you can take, and keep moving forward. That's how winning is done!"

    January 29, 2015 at 1:25 pm #655621
    Anonymous
    Inactive

    Does anyone know if the authoritative literature is accessible for the written portion?

    January 29, 2015 at 8:23 pm #655622
    Anonymous
    Inactive

    I'm working on cost accounting from now through the weekend. I don't know why anyone would want to be a cost accountant.

    January 29, 2015 at 10:26 pm #655623
    SullivanNJD
    Member

    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.

    $133,333

    b.

    $80,000

    c.

    $33,333

    d.

    $50,000

    Can someone help me walkthrough how 80,000 is correct and how to get there. I have memorized some of the breakeven formulas and what not, but I can't seem to figure out where to even start with this one.

    FAR- 87
    REG- 81
    AUD- 88
    BEC-

    Who's Better Than Us? nobody

    January 29, 2015 at 11:56 pm #655624
    Anonymous
    Inactive

    Here's how I did it:

    Basically I said that Variable Costs = 75% of Sales Price (60% VC + 15% required return).

    $50 * .75 = 37.50 is the new “cost.”

    50 – 37.50 = 12.50 Contribution Margin.

    20,000 Fixed Costs / 12.50 = 1,600 units for a 15% return on sales.

    1,600 * 50 = 80,000.

    I'm not saying that my way is the best way. Or the textbook way. But it works for me.

    January 30, 2015 at 1:24 am #655625
    OnMyWay732
    Participant

    @Angelwatch. Where did you get the 75% from??

    AUD - July 2014 - 76
    REG - August 2014 - 82
    FAR - November 2014 - 78
    BEC - January 2015 - 81

    DONE!!!!

    Used Becker online. Who needs a text when you can burn your eyes out staring at the screen for months on end?

    "Let me tell you something you already know. The world ain't all sunshine and rainbows. It is a very mean and nasty place and it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain't how hard you're hit; it's about how hard you can get hit, and keep moving forward. How much you can take, and keep moving forward. That's how winning is done!"

    January 30, 2015 at 1:28 am #655626
    OnMyWay732
    Participant

    I believe this is the way to get there. And I hope we don't see this on the exam.

    Since variable costs = 60%, we know contribution margin is 40%.

    Breakeven = 20,000 / .4 = 50,000 to breakeven. Since variable costs are 60%, 50,000 x .6 = 30,000.

    50,000 + 30,000 = 80,000.

    AUD - July 2014 - 76
    REG - August 2014 - 82
    FAR - November 2014 - 78
    BEC - January 2015 - 81

    DONE!!!!

    Used Becker online. Who needs a text when you can burn your eyes out staring at the screen for months on end?

    "Let me tell you something you already know. The world ain't all sunshine and rainbows. It is a very mean and nasty place and it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain't how hard you're hit; it's about how hard you can get hit, and keep moving forward. How much you can take, and keep moving forward. That's how winning is done!"

    January 30, 2015 at 1:52 am #655627
    Anonymous
    Inactive

    I simply added the 15% return on sales to the variable cost of 60%. That gave me a “cost” of 75%.

    It's just looking at the breakeven formula a little different.

    January 30, 2015 at 5:39 pm #655628
    CPA2B_NJ
    Member

    Hello everyone,

    Year-end reporting is winding down for me, so I'm officially starting my BEC studies. My exam is on 02/27/2015, and I finished reading B1 yesterday. I look forward to everyone's help. I failed this exam twice. Just from reading B1 I saw that I forgot everything!

    FAR - 50, 78
    BEC - 67, 72, 75
    AUD - 72, 80
    REG - 70, 85

    To God be the glory! Forever, amen!

    NJ License

    January 30, 2015 at 11:57 pm #655629
    Anonymous
    Inactive

    Everyone is solving that one problem differently, so here is the way I did it, but It took a long while to think in terms of total sales instead of sales per unit I admit:

    the simple profit formula says: Profit = Sales – Sales*VC – FC

    so: Sales*.15 = Sales – Sales*.6 – 20,000

    solving for S using algebra: .15S – S + .6S = -20,000

    = -.25s = – 20,000

    = S = 80,000

    January 31, 2015 at 12:03 am #655630
    Anonymous
    Inactive

    Question about the BEC test, is there a spell check available that you can scan your written portion of the test? If so, does it work properly without any quirks? Thanks

    January 31, 2015 at 12:28 am #655631
    On2Sum
    Member

    CPA2B_NJ;

    Wanna hear a no-brainer?

    Get Ninja Audio for BEC and Get Ninja BEC Notes.

    Use as directed. Use often. Use all the time. Use till you OD on the materials.

    For the Audio, put on auto-play. Jeff's voice doesn't sound too bad. He won't be getting a Grammy nomination anytime soon, but he'll get you the requisite 75 you need to pass.

    You're Welcome!!

    FAR - 79
    REG - 76
    AUD - 94
    BEC - 77

    DONE! DONE!! DONE!!!

    "Success is not final, failure is not fatal; it is the courage to continue that counts"
    -Winston Churchill

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