Answer questions

As you go through the week, please take notes & post two interesting topics or 'Ah-Ha' moments you discovered.  Describe each and how it was interesting or how the topics were 'Ah-Ha' moments for you.

 

After you have submitted your initial post, please read your fellow classmates’ postings.  Please respond to at least your two classmates, and please make sure everyone gets at least one response (aim for at least 100-150 words per peer post).  

Response

1. A “Ah- Ha moment for me was when I was trying to understand  how scrap and rework are important it in a business and how it works. I was a little bit confused about what it was in the beginning so after all my research I finally understood it. Rework are units of production that are unacceptable which repaired and sold as acceptable finished goods. Scrap are leftover materials when making a product. Another thing that I struggled with was computing the Investment Center Residual Income after watching a YouTube video and found a good  lecture that broke down it made it easier for me to understand.    

2. An Ahaa moment for me was in allocating different costs. After completing several problems I finally figured it out and it actually was never that difficult, to begin with. I feel like I over-complicated the solving of the problems by trying to figure it out myself before going through the learnsmart problems and reading the text. Another reason why this was confusing to me is that you have to do several calculations to get to the answer. Especially in the quizzes without the actual ledger and having to figure out the total allocation costs. As well as when ledgers are already given but there are added costs or percentage changes. After going through the text, I also did some additional research and got some extra help on the problems. The link below was very helpful in explaining cost allocation and the reasoning behind it in more detail.