BEC Study Group Q4 2014 - Page 71

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  • November 9, 2014 at 2:51 am #626697
    Krissyagar
    Member

    Thanks yellowsugar! I think the direct material thing is what was throwing me off. I kept adding the ending inventory % and it wasn't one of the choices so I just guessed. WTB doesn't give an explanation.

    FAR- 84
    AUD- 97
    REG- 90
    BEC- 85

    November 9, 2014 at 8:59 am #626698
    kappa1032
    Participant

    It's taking me forever to do the HW..B1 operations management questions were super long and most of them took me about 2 minutes a question…

    Is that normal?

    FAR - 81
    REG - 74, 87
    AUD - 88
    BEC - 88

    Finally.

    “The only guarantee for failure is to stop trying”
    ― John C. Maxwell

    November 9, 2014 at 1:50 pm #626699
    jstay
    Participant

    kappa, yep its normal. it will go faster 2nd/3rd time through

    NJ, not bad. i decided to just go with becker for my last weekend of studying. i scoring high 80s/low 90s on 72 question progress tests. even if i know the problem/answer i still work through it. i do 72 questions of b1-b6 then 72 of just b1-b3. then 72 b4-b6 then i go through another 72 b1-b6. so its almost 300 questions a day, hopefully it helps.

    November 9, 2014 at 4:53 pm #626701
    jstay
    Participant

    lauren, was the test evenly distributed or heavily weighted just a few topics? any chapters i should re read in becker on tuesday before wednesday?

    November 9, 2014 at 5:23 pm #626702
    Krissyagar
    Member

    jstay, my test is Wednesday too. Good Luck! I've studied just as much (maybe more) and feel less prepared than with the last three tests!

    FAR- 84
    AUD- 97
    REG- 90
    BEC- 85

    November 9, 2014 at 5:46 pm #626703
    jstay
    Participant

    look at your scores! your going to do fine! but we can all use a little bit of luck, good luck to you as well!

    November 10, 2014 at 2:36 am #626707
    lauren725
    Member

    jstay, don't want to break any disclosure rules but ya i would say the information is all fair game. Like someone pointed out earlier, with BEC there isn't a ton of information (like in FAR) and so they are able to dig deeper in the information, which has been my experience both times I have taken it. I know each test is different, but just be prepared for anything. Keep doing what you are doing and going over weak spots and try to keep calm during the test.

    AUD - 73,91
    FAR - 79 - Thank you God!
    BEC - 73,79!!!!
    REG - 92 whatttt??!

    I used Becker review + flashcards, Ninja Audio, Ninja MCQ supplement on BEC and REG.

    Done! Praise God!

    November 10, 2014 at 4:18 am #626708
    Anonymous
    Inactive

    The following national income data are in billions of dollars:

    Interest $ 22 Net foreign factor income $ 6

    Undistributed corporate profits 18 Indirect business taxes 37

    Social Security contributions 12 Imports of the U.S. 31

    Gross private domestic investment 82 Corporate profits 62

    Proprietor's Income 11 Government purchases 110

    U.S. Exports 18 Consumption of fixed capital 34

    Dividends 12 Transfer payments 23

    Corporate taxes 10 Personal taxes 39

    Personal consumption expenditures 275

    Given this information and using the expenditure approach, the gross domestic product is:

    Select an answer:

    A.

    $485 billion.

    B.

    $472 billion.

    C.

    $454 billion.

    D.

    $420 billion.

    November 10, 2014 at 12:58 pm #626709
    Krissyagar
    Member

    Is it C? Gross private domestic investment- 82 + Government purchases- 110 + Net exports- (13) + Personal expenditures- 275 = 454

    Note to self: Study GDP 🙂

    FAR- 84
    AUD- 97
    REG- 90
    BEC- 85

    November 10, 2014 at 2:15 pm #626710
    Krissyagar
    Member

    The Cutting Department is the first stage of Mark Company’s production cycle. Conversion costs for this department were 80% complete as to the beginning work in process and 50% complete as to the ending work in process. Information as to conversion costs in the Cutting Department for January 2012 is as follows:

    Units Conversion

    costs

    Work in process at January 1, 2012 25,000 22,000

    Units started and costs incurred during January 135,000 $143,000

    Units completed and transferred to next

    department during January 100,000

    Using the FIFO method, what was the conversion cost of the work in process in the Cutting Department at January 31, 2012?

    $33,000

    $38,100

    $39,000

    $45,000

    FAR- 84
    AUD- 97
    REG- 90
    BEC- 85

    November 10, 2014 at 2:22 pm #626711
    Krissyagar
    Member

    What's confusing me is that I thought you used (1- completion percentage) for BWIP when calculating equivalent units under FIFO. This problem uses actual completion percentage.

    FAR- 84
    AUD- 97
    REG- 90
    BEC- 85

    November 10, 2014 at 2:47 pm #626712
    jstay
    Participant

    whats the answer?

    i did 25,000 x .20 to get 5000

    then 100,000- 25,000 for 75,000

    then 35,000 (assuming thats the ending wip) x .50 to get 17,500

    add them up for 97,500

    then divide only the current cost of $143,000 by 97,500 to get 1.47.

    id then multiply the 1.47 by the ending wip to get a number (25,725) that isnt there.

    is there any explanation for this? what is the ending wip?

    November 10, 2014 at 3:13 pm #626713
    Krissyagar
    Member

    They use 20,000 for BWIP. I'm so confused.

    This answer is correct because first, the number of units in ending work in process must be computed:

    Work in process

    BWIP 25,000 100,000 Units completed

    Units started 135,000 ? EWIP

    Units to account for 160,000 160,000 Units accounted for

    EWIP = 160,000 units to account for – 100,000 units completed = 60,000 units.

    The next step is to compute equivalent units of production (EU) under the FIFO method:

    Units completed

    100,000

    EU in ending WIP (60,000) (50%)

    30,000

    130,000

    EU in beginning WIP (25,000)

    (20,000)

    (80%)

    EU of production

    110,000

    Conversion cost per unit for the current period is $143,000/110,000 or $1.30 per equivalent unit. The cost of the ending WIP equals the equivalent units in ending WIP times the conversion cost per unit of $1.30:

    (30,000) ($1.30) = $39,000

    FAR- 84
    AUD- 97
    REG- 90
    BEC- 85

    November 10, 2014 at 3:24 pm #626714
    jstay
    Participant

    i have no idea and reading the answer just confuses me more. what test bank is this from?

    ive been doing it the way i explained and all the answers have been coming out right.

    also, why the 20,000 begin wip. if 80% was ALREADY complete then why would we include that in work done this month, wouldnt it be the 20% or 5,000?

    so confusing and i hope on the actual exam they give us the ending wip

    November 10, 2014 at 3:40 pm #626715
    Krissyagar
    Member

    I think (hope) it's a mistake? It's the Wiley Test Bank. I've used WTB for the other three parts and it was great, but I've had a ton of problems with it for BEC. There seems to be a ton of mistakes, some of the questions give explanations with the wrong figures and some explanations have no relevance to the problems at all. It's so frustrating. I considered switching to Ninja this time around (I just found this site after I finished REG), but didn't want to change what had worked in the past. I wish I had!

    FAR- 84
    AUD- 97
    REG- 90
    BEC- 85

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