[jeff]

Welcome to the Q1 2017 CPA Exam Study Group for BEC. 🙂

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

[CPASF1]

Thank you Nathalia! I get the part of:
July= 30,000*.75=22,500 credit sales
August = 15,000 * .75 = 11,250 credit sales
September = 35,000 * .75 = 26,250 credit sales

could you please explain why you did: 26,250 *.6 instead of 22,500* .6 since july is the first month and it says The collection pattern for credit sales has been 60% in the month of sale. sorry i am having a little trouble with this section

[ng3926a]

“The collection pattern for credit sales has been 60% in the month of sale, 30% in the first month after sale, and the rest in the second month after sales.”

The question doesn't say that 60% of July credit sales are collected or 60% of the first month, it says that 60% of credit sales are collected during the month the sale is made.

So really what it says is that in a particular month

60% of credit sales from that particular month are collected
PLUS 30% of credit sales from the previous month are collected
PLUS 10% of credit sales from 2 months ago are collected.

So in September we could collect
60% of September credit sales
30% of August credit sales
10% of July credit sales.

and if it asked for August
60% of August credit sales
30% of July credit sales
10% of June credit sales.

and so on.

[CPASF1]

Thank you so so much Nathalia!

[jjjgolf500]

Wren Co. manufactures and sells two products with selling prices and variable costs as follows:

A B
Selling price $18.00 $22.00
Variable costs $12.00 $14.00

Wren's total annual fixed costs are $38,400. Wren sells four units of A for every unit of B. If operating income last year was $28,800, what was the number of units Wren sold?

Answer 10,500

Anyone know a simple way of coming up with the answer?

Thanks

[ng3926a]

Hopefully this isn't too much of an obvious answer, but I noticed some of the formulas involve exponents, yet the calculator on the test doesn't do exponents.

Should I then assume that they may only ask about the concept of the formula or one that only involves squaring?

Or have I been living a lie and am not aware of how the calculator works?

[QueenCPA]

jjjgolf500

4(18-12) + 1(22-14)
4*6 + 8
24+8
=32

The total fixed cost is 38,400 plus the intended profit of 28,800 equals 67,200

= 67,200/32
= $2100

Since he sold 4 of A for every 1 of B

4(2100) + 2100
= 10, 500

[QueenCPA]

Nathalia,

I noticed the same! ‘

I guess we just have to try as possible to estimate.

Also, do you know if we can get hand held calculators instead of the one provided on the screen.

I once read that if one asks for it, they might provide.

[Anonymous]

Hello everyone!

I am a student with one semester left who plans to take the BEC in February 2017!

Today was my first day studying and I have to say it was a little discouraging. I'm putting in a lot of time but I feel like it's going to be incredibly hard to fulfill all the requirements Becker assigns me to do. I also was doing the homework and came across questions that were not covered in the book so that makes me worry for down the road. I'm dilligent in my reading, notes, and lectures but the homework ties me up. Sometimes the question does not relate to the answers definition even though the answer is correct. If that makes sense. Just looking for some advice!

[JesseD]

Skyxliner: Im watching the ROGER videos now and yes…I agree. It seems really light although he explains it to be because its scored by a machine. And what I got out of it is that you need to know the basics of how to write a letter ( beginning, ending, etc ) and grammar. There is a spellcheck so he says use it all the time. Other than that, I got that if you know your subject ( the materail ) youll be fine.

Im not sure thats right but Ill know Feb 28th!

[jelani1911]

Hi,

Im really struggling with cost accounting, especially with the tricky wording on variances problems. any suggestions on how to tackle cost accounting and should i focus most of my attention on this section?

[CPYay]

@jelani1911

I'm in the same boat. I feel like this test is going to be very difficult. I struggle with sections 3 (Financial Management) and 6 (Operations) of the Ninja MCQ. There are so many calculations and variations to the calculations. I've done over 1,000 MCQs and haven't improved much in those sections. I can't possibly remember all of this…

I'm going to look at the variance equations tonight to drill them in. I'll post my method of memorizing them in the next few days.

[Theodore]

Hi guys! unfortunately I am back. I am officially in the group of 74s. ugh. One point and I would have been done. Oh well. Let's get this studying going!

I had trouble with variances too

FAR: 66, 76!
REG: 76!
AUD: 72, 9/7/2016
BEC: TBA

Don't Stop When You Are Tired, Stop When You Are Done.

[jelani1911]

Hi Rosy,

Sorry for your disappointment, I'm sure you'll pass this quarter. What was your exam experience like and what topics did you see heavily?

[mtaylo24]

@Rosy0407, welcome back 🙁 If I get a 74 this go-round, I'm going to flip LOL!

@jelani1911, every test I've had was diff. One was IT heavy, One was Cost heavy, One was Econ/Coso heavy. Know everything. BTW, where does 1911 come from? I'm familiar w/ that year 👌

AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
REG - 55 (2/16) 69 (5/16) Retake(8/16)
BEC - 71(5/16) Retake (9/16)
FAR - (8/16)

[jelani1911]

@mtaylo24, YO nupe!!!! The struggle is real, I'm over here going nuts with cost accounting. I hope I'm fortunate enough to get a exam thats Econ/Coso heavy.

[Author]

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