[jeff]

Welcome to the BEC CPA Exam study group for July & August 2018 exams. 🙂

Please introduce yourself & when you’re taking your exam (approximate timeframe).

BEC Study Group Links and Resources:

1. NINJA Monthly – Full BEC Course for $67/mo
2. How to Study for BEC with NINJA Only
3. How to Pass BEC in 20 Days
4. How to Retake BEC After Failing
5. Video: Study Advice for BEC
6. CPA Reviewed Podcast
7. CPA Exam Score Release Dates
8. NINJA MCQ Trending vs Actual BEC Scores
9. I Passed the CPA Exam!
10. I Passed BEC!
11. NINJA BEC Written Communications List by Topic
12. Free Downloads: NINJA BEC

[CPYAYYY]

hours were*

[rencpa]

@ Sara

1 FG — 2.5 LHrs (actual)
9 FG (actually made) — x ?? LHrs
Solve for “x” = 22.5K LHrs
Now use your formula:
A (actual LHrs used) x (S – A) = 22.5K LHrs x ($20 – $21) = 22.5K Unfavorable (your Standard $20 < Actual $21)

[dexterjenkins02]

Can someone please explain how you get the answer of $65,000. I have been trying to figure it out for a while. It is from the 2018 AICPA released questions (difficult) and is the only one I did not get right. Any help would be greatly appreciated.

Financial data related to a company’s unit production for the current month are as follows:

Standard overhead hours for production of 15,000 units $20,000
Actual unit production $15,000
Actual variable factory overhead $475,000
Actual fixed factory overhead $50,000
Standard unit total overhead cost per hour $30
Standard fixed factory overhead per hour $3

What amount is the company’s variable factory overhead variance for the
current month?
a. ($70,000)
b. ($25,000)
c. $65,000
d. $125,000

[CPYAYYY]

If standard total overhead cost is 30 and $3 is the standard fixed overhead then we can determine that $27 is the standard variable overhead cost. Therefore, 475000 Actual variable overhead/20,000 (standard hours for 15k units) = 23.75…27-23.75=3.25*20000 (standard hours for 15k units) = 65,000. Favorable since the variable price per unit is lower than the standard

[dexterjenkins02]

Thanks!

[CPYAYYY]

In which of the following situations would there be inelastic demand?
A 5% price increase results in a 3% decrease in the quantity demanded.
A 4% price increase results in a 6% decrease in the quantity demanded.
A 4% price increase results in a 4% decrease in the quantity demanded.
A 3% price decrease results in a 5% increase in the quantity demanded.

Can someone explain this to me? The correct answer is first option.

[sara]

The formula for elasticity of demand is % change in QD over the % change in price:
The calc is as follows:
.03/.05 = .6
.06/.04 = 1.5
.04/.04= 1.0
.05/.03 = 1.67

A greater than 1.0 coefficient = elastic
Equals 1.0 = unitary
Less than 1.0 = inelastic

[sara]

Hi –

Majority struggling on the EU problems on Wiley and wanted to see if someone could help out 🙂
Question?
Kimbeth Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry. The following information pertains to operations for the month of May 2012:
Units
Beginning work in process inventory, May 1 16,000
Started in production during May 100,000
Completed production during May 92,000
Ending work in process inventory, May 31 24,000

The beginning 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.

Costs pertaining to the month of May are as follows:
The beginning inventory costs are: materials, $54,560; direct labor, $20,320; and factory overhead, $15,240.
Costs incurred during May are: materials used, $468,000; direct labor, $182,880; and factory overhead, $391,160.

Using the weighted-average method, the equivalent unit conversion cost for May is:
.
.
.
.
Answer:
Units completed 92,000
Ending WIP (24,000 × 40%) 9,600
Total equivalent units 101,600
Conversion costs:
Beginning WIP $ 35,560
Units started 574,040
Total costs incurred $609,600
Divide by EUP ÷ 101,600
Costs per equivalent unit $6.00

I can calculate the EU but am getting stuck on how to calculate the beg WIP conversion costs ($35,560) and the units started conversion costs ($574,040). Wiley doesn't give you an explanation and other practice questions aren't this inclusive.

TY!

[polinkatlt]

I took the BEC test on Sat. MCQ took me approximately 1hr and 40 min, SIMs (testlets 3 and 4) 1 hrs 20 min and i had 1 hour for the WC section which seemed to be enough.

[CPYAYYY]

Be careful on the exam disclosures 😅

[polinkatlt]

Hmm that thought crossed my mind. But i figured since I'm merely listing the topics rather than actual questions that's not a big deal. But just to be safe, @Jeff, can you edit/delete my message, since i'm not able to? Thanks!

[samh94]

Just got my BEC score. Passed with an 85!!! Used Becker and supplemented with NINJA Monthly. Thanks Jeff!

[CPAmojo]

Took BEC today. I find out the score next week. I thought the exam would be more calculations (which I studied a lot for after hearing from friends that the exam is calculation based). Turned out to be all conceptual. The mcq didn’t get harder in the second testlet – I don’t know if that means I did poorly on the first testlet. The second testlet mcq were short questions. The sims were brutal and got into a topic that I dread. I had 1.5 hrs for wc and I used up all that time to write out good wc. Hopefully that’s enough for me to pass. It seriously will be a miracle for me to pass BEC because it’s been the hardest exam for me after passing three exams. Wishing everyone good luck! We got this!

[HaiNinJa]

Hello Ninjas,

I have BEC coming up (10/08/2018) and i would like to ask the ninjas that had taken the new version of BEC.
-Are the multiple choice mainly conceptual, or is it heavy with calculations?
-For the TBS section, will the ratios and formulas be provided to us, or we must memorize all of them?
-For the written section, is it true that it will be scored on your writing skill, and not whether you answer the question correctly?

Thank you in advance ninjas.

[Anonymous]

@HaiNinja,
-In my experience MC are about 50/50 on conceptual or calculations (maybe 40/60, it's been a few months).
-I hate to say this, but I think you need to memorize a LOT of formulas and ratios for BEC
– BEC written communications are based on writing skill not right/wrong usually. I have people disagree with me on this, but I missed 2/3 of mine answer-wise but got points for quality of writing. If you are near the cutoff (72-78), there is a good chance your written responses will be hand-graded and may be graded for content.

[Author]

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