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PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

  • 1.  PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

    Posted 06-15-2023 11:04 AM
    Question : 
    A company uses a weighted-average process costing system. All materials are introduced at the start of manufacturing, and conversion cost is incurred evenly throughout production. The company started 70,000 units during May and had the following work-in-process inventories at the beginning and end of the month:
    May 1
    30,000 units, 40% complete
    May 31
    24,000 units, 25% complete
    Assuming no spoilage or defective units, the total equivalent units used to assign costs for May are
    option a - 70,000             70,0000
    option b - 82,000             82,000
    option c - 100,000           70,000
    option d - 100,000           82,000
    Hi guys,
    Would anyone please find the solution. 


    WITH REGARDS,


    SARUN PORATHUR SIMON




  • 2.  RE: PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

    Posted 06-16-2023 01:09 AM

    option d

    EPU Material = 100000

    EPU Conv. = 82000




  • 3.  RE: PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

    Posted 06-17-2023 03:40 AM

    Since, this is weighted average process system, beginning inventory will be ignored and Goods completed/transferred out will be used.

    Also, Materials are added in the beginning of process, material is 100% complete for ending inventory-



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    Neha Aggarwal
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  • 4.  RE: PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

    Posted 08-14-2023 03:23 PM
    Dear CMA Team,

    I hope this email finds you well. I am writing to bring to your attention a concern I encountered during the recent CMA exam. 

    In the exam, I achieved a total score of 300. However, I faced an unexpected challenge when the essay window did not open for me. As per the guidelines provided, an examinee is required to score more than 50 percent in the Multiple Choice Question (MCQ) section to have access to the essay window. Upon calculating my score, I found that I scored approximately 80% in the MCQ section, which is well above the required threshold (300/375).

    I have attached the evidence of my exam scores for your reference. It clearly indicates that I met the criteria for accessing the essay window, and yet I was unable to proceed with the essay section. 

    I kindly request your prompt assistance in addressing this issue and providing a solution. It is crucial for me to have the opportunity to complete the essay section but after the mcq completed, my essay window doesn't open,i followed all the instructions which is mentioned on screen before starting exam.Your support in resolving this matter would be greatly appreciate. 

    Best regards,
    Sujal mittal






  • 5.  RE: PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

    Posted 08-19-2023 07:23 AM

    I also scored 300 and my essay section did not open during the exam. Have you received an explanation? It appears this happened to many candidates. The lack of transparency in grading is extremely frustrating. 



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    Rebecca Dear
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    Original Message


  • 6.  RE: PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

    Posted 08-21-2023 02:38 AM

    Hi,

    Any update from IMA? My friend also scored 300 but Eassy didn't opened.

    Regards,

    Shiva



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    Shiva Kumar
    Bangalore
    India
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    Original Message


  • 7.  RE: PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

    Posted 08-21-2023 09:04 AM
    I have emailed the IMA twice, but haven't received a response yet. 



    Original Message


  • 8.  RE: PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

    Posted 08-21-2023 09:05 AM

    I have emailed IMA twice, but haven't received a response yet. 



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    Rebecca Dear
    Controller
    Opp AL
    United States
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    Original Message


  • 9.  RE: PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

    Posted 08-22-2023 12:40 AM
    Hello everyone,

    I have scored  310 which is 62% out of 500 (total score), as you know the success score is 72%, however the essay did not open.

    Regards,
    MHD



    Original Message


  • 10.  RE: PART 1 - PROCESS COSTING SYSTEM - WEIGHTED AVERAGE METHOD

    Posted 08-22-2023 08:30 AM

    Hello All,

    To answer the inquiries here regarding the scoring, the requirement in order for the essay questions to open is to have a minimum of 50 correct items out of the100 MCQs or 45 correct items out of 90 since IMA are including some items that can be potentially tested for the next exams. The scaled score for example, 250/500 or 300/500 would not equate that a candidate was able to score the required 50% correct items in the Multiple-choice section. The items have different scaled score based on its difficulty and it's possible to reach 50% of the scaled score which is 250/500 for example but would not mean that 50% correct items in multiple-choice questions was achieved. The main requirement for the essay section to open as mentioned is to score the required items of multiple-choice questions, not the scaled score. Hope this would clarify the questions.



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    Best Regards,

    Gildz
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    Original Message


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