Internet Case 16.3 – Calculating Cost of Goods Manufactured
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As an employee, write an internal memo to your manager addressing the following: Please be sure to address the following in a memo style and not just data.
Using the Internet, locate the most recent financial report of a company of your choosing. The company you select to research must be in the business of manufacturing a product. If the required information is not available, then you will need to select a different company.
Address the following in your memo:
- Do not research the company listed in the text.
- What categories of inventory does the company show in its inventories footnote under “Notes to Consolidated Financial Statements”?
- Using the income statement and inventory information from the footnote, calculate the cost of finished goods manufactured for the most recent year.
- What elements of manufacturing overhead can you identify using the annual report?
Be sure to cite your sources in MLA formate