Series 2- Financial Literacy Class: Understanding Costs and Selling Price

This event has been canceled

Join us for our second four week (see attendance dates below) series to learn more about the language of accounting. This class is the second series and a continuation from our Financial Literacy Class: Understanding the Accounting Language. Join us as Boise State lecturer, JoAnn Wood, breaks down the language of accounting into an easy to understand series to help you understand the financial side of your business. Attendees should have attended Series 1- Financial Literacy Class: Understanding the Accounting Language to get the most out of this class. What we'll cover: · Week 1 (May 10th): Big Picture of Cost of Goods Manufactured Cost of Goods Sold (COGS) is often a four-letter word to most business owners. We will take a high-level look at the Cost of Goods Manufacturing Schedule to understand why our business might be not as profitable as we had hoped. · Week 2 (May 17th): Stages of Inventory, Direct Labor, and Manufacturing Overhead We will look in-depth at each state of inventory, direct labor, and manufacturing overhead to understand where we are losing money. · Week 3 (May 24th): Fixed Cost and Variable Costs Determine Break-Even Point Do you know how much you must produce or sell each month to break-even? Understanding fixed and variable cost will help you know what your production and sales goals need to be. · Week 4 (May 31st): Allocation of Manufacturing Overhead using Cost Drivers If you have more than one department on your production or sales floor, how do you allocate your manufacturing overhead to each department. We will look at different cost drivers to help you determine what cost driver is fair to everyone in your business.

Speaker(s): JoAnn Wood is a lecturer of accountancy in the College of Business and Economics at Boise State University. She received her undergraduate degree in business/marketing education from Utah State University in Logan, Utah, and a master of accountancy from Boise State University. Previously, she has worked in several areas of the private sector, such as manufacturing, real estate, law, service, and communication. JoAnn serves as the treasurer for the Idaho Suzuki Association, a local non-profit organization that teaches kids to play the piano and strings instruments through listening, repetition and encouragement. She is also active in her church community and leads children in their weekly services. JoAnn was raised in Rockland, Idaho, a farm community that cultivated her strong work ethic. Her husband, Nathan, was born and raised in Arlington, Virginia. They feel Boise offers the right mix of city and country to call home. In her spare time, JoAnn enjoys spending time with her family, running, and reading.

Co-Sponsor(s):

Fee: $ 40.00