MGT 5 Lecture Notes - Lecture 2: Potato Chip, General Ledger, Cost Accounting

• School: UCSD
• Department: Rady School of Management
• Course: MGT 5
• Professor: Wade Lindenberger

Document Summary

Make sure your iclicker is registered, questions start tonight. Frequency: dc (hold power for 2 sec, then press letters) Will be at the beginning and end of class; same question for both iclicker. First quiz next class; chapter 1 and 2, key concepts will be posted on ted. Work through pre-class problems and supplement problems until everything becomes more natural. Pieces of the flow chart for cost of goods manufactured. First hw assignment will be due next week. Groups will be formed tonight for consulting project. Visual flow of cog manufacturing and cogs (see spreadsheet posted on ted) Three main inventories: raw material, wip, and finished goods. Beginning inv + cog purchased - ending inv = cogs. Cost to each job; ie. each movie produced. Cost accounting are make films cost efficient. Accounts are fully integrated into the general ledger. Used when a large volume of similar products are manufactured (cereal, refining of petroleum, production of ice cream, etc)