[jeff]

Welcome to the Q1 2016 CPA Exam Study Group for BEC.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

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

[Martin]

monikernc, are you sure your answer is correct? I came out with the same answer, but it was not one of the options I had on my online test.

What do you guys think is the answer?

20 million net income before tax, tax rate 40%, short term debt 4 million, long term liability 12 million, total asset 20 million, cost of capital 8%, what's Economic value added?

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[monikernc]

martin – what answer is given? any solution provided?
was it $11,168,000? if so, to get to NOPAT you have add the 8% interest on short and long term debt back to net income before taxes

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[payaza2000]

@ERIKA

Thanks. I found myself really struggling with Beckers explanation of Overhead Variances.

FAR 5/6/2015- 84
REG 8/3/2015 - 87
AUD 10/25/2015- 69 1/20/2016 -75
BEC 2/26/2016- 80

Thank you God

[Martin]

monikernc, a friend send me the question, but he couldn't find the answer either, and he says is not 10.4M. I will find out the answer and let you know.

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[MissMorrisa]

I hate microeconomics!! Nothing about this is interesting…the marginal this or that is annoying. I have to keep looking up the terms…

~Work in Progress -JJ

AUD - 80 (May 2015)
REG - 79 (August 2015)
FAR - 85 (November 2015)
BEC - 84 (February 2016)

[FAR_WARS]

i'll take econ over cost accounting any day!

FAR- 80
BEC- 75
AUD- 78
REG- ?

[payaza2000]

A manufacturing company employs a process cost system. The company's product passes through both Department 1 and Department 2 in order to be completed. Conversion costs are incurred uniformly throughout the process in Department 2. The direct material is added in Department 2 when conversion is 80% complete. This direct material is a preservative that does not change the volume. Spoiled units are discovered at the final inspection and are recognized then for costing purposes. The physical flow of units for the current month is presented below.

Beginning work-in-process 14,000
in Department 2 (90% complete
with respect to conversion costs)

Transferred in from Department 1 76,000

Completed and transferred to 80,000
finished goods

Spoiled units – all normal 1,500

Ending work-in-process in 8,500
Department 2 (60% complete
with respect to conversion costs)
If the manufacturing company uses the weighted-average method, the equivalent units for direct materials in Department 2 for the current month would be:

A.
67,500.

B.
80,000.

C.
81,500.

Incorrect D.
90,000.

FAR 5/6/2015- 84
REG 8/3/2015 - 87
AUD 10/25/2015- 69 1/20/2016 -75
BEC 2/26/2016- 80

Thank you God

[monikernc]

Payaza – i can't follow the info in your question. If a ninja question please post the number. Is the correct answer 81,500?

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[Anonymous]

payaza2000 is not the answer C? EI is still at 60% as to CC not 80% and when there is an inspection and spoiled goods are recognized for costing purposes they are included in EFU. So the 80,000 transfered goods + 1,500 of spoiled ones are considered to arrive at EFU I think. I began studying for this 2 hours ago so I am not sure….

[monikernc]

cortes and payaza – that is how i got to 81,500 just not clear from way info laid out in post

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[payaza2000]

Sorry guys it is 81,500. So C. NINJA question.

FAR 5/6/2015- 84
REG 8/3/2015 - 87
AUD 10/25/2015- 69 1/20/2016 -75
BEC 2/26/2016- 80

Thank you God

[monikernc]

Payaza as long as you understand it now. Post the ninja question number when you need help. The formatting throws off the info sometimes.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[Anonymous]

payaza I was curious, did you meant to write that username in spanish? 🙂

[FAR_WARS]

“In a balanced scorecard, internal business processes are what the company does in its attempts to satisfy customers.”

Why is this a correct statement? I thought that the CUSTOMER perspective was separative from the INTERNAL BUSINESS PROCESSES perspective.

FAR- 80
BEC- 75
AUD- 78
REG- ?

[FAR_WARS]

*Absorption (full) costing
vs.
*Variable (direct) costing

Is standard costing something entirely different? or is it synonyms with one of the above?

FAR- 80
BEC- 75
AUD- 78
REG- ?

[Author]

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