MGMT_201_(Ganguly)_Lecture_2

MGMT_201_(Ganguly)_Lecture_2 - 21 MGMT 201(Ganguly) Lecture...

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McGraw-Hill/Irwin 2- 2- 1 1 MGMT 201(Ganguly) Lecture 2 Lecture 2
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McGraw-Hill/Irwin 2- 2- 2 2 You should now be prepared with … Introductory Syllabus and Registration Introductory Syllabus and Registration stuff stuff Reading Assignments Reading Assignments Chapter 1, pp. 2-17 Chapter 1, pp. 2-17 Skimmed pp. 17-28 Skimmed pp. 17-28 Chapter 2, pp. 34-60 Chapter 2, pp. 34-60 (You should also at least have tried – (You should also at least have tried – really, really, have tried) the Self Study really, really, have tried) the Self Study Questions listed for in the syllabus for Questions listed for in the syllabus for Lecture 2 Lecture 2
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McGraw-Hill/Irwin 2- 2- 3 3 Merchandiser Merchandiser Current Assets Current Assets Cash Cash Receivables Receivables Prepaid Expenses Prepaid Expenses Merchandise Merchandise Inventory Inventory Manufacturer Manufacturer Current Assets Current Assets Cash Cash Receivables Receivables Prepaid Expenses Prepaid Expenses Inventories Inventories Raw Materials Raw Materials Work in Process Work in Process Finished Goods Finished Goods Cost Classifications on Financial Statements – Balance Sheet
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McGraw-Hill/Irwin 2- 2- 4 4 Manufacturer Current Assets Cash Receivables Prepaid Expenses Inventories Raw Materials Work in Process Finished Goods Merchandiser Merchandiser Current Assets Current Assets Cash Cash Receivables Receivables Prepaid Expenses Prepaid Expenses Merchandise Merchandise Inventory Inventory Cost Classifications on Financial Statements – Balance Sheet Those materials waiting to be processed.
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McGraw-Hill/Irwin 2- 2- 5 5 Manufacturer Current Assets Cash Receivables Prepaid Expenses Inventories Raw Materials Work in Process Finished Goods Cost Classifications on Financial Statements – Balance Sheet Partially complete products – material to which some labor and/or overhead has been added. Merchandiser Current Assets Cash Receivables Prepaid Expenses Merchandise Inventory
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2- 2- 6 6 Manufacturer Current Assets Cash Receivables Prepaid Expenses Inventories Raw Materials Work in Process Finished Goods Cost Classifications on Financial Statements – Balance Sheet Merchandiser Merchandiser Current Assets Current Assets Cash Cash Receivables Receivables Prepaid Expenses Prepaid Expenses Merchandise Merchandise Inventory Inventory Completed products awaiting sale. Wait a minute… “COSTS” on the “BALANCE SHEET” ?
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McGraw-Hill/Irwin 2- 2- 7 7 Manufacturing Costs The Product Direct Labor Direct Material Manufacturing Overhead
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McGraw-Hill/Irwin 2- 2- 8 8 All other manufacturing costs All other manufacturing costs Manufacturing Overhead Materials used to support the production process.
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This note was uploaded on 03/18/2011 for the course MGMT 201 taught by Professor Rowe during the Spring '08 term at Purdue.

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MGMT_201_(Ganguly)_Lecture_2 - 21 MGMT 201(Ganguly) Lecture...

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