Internet Case 16.3 – Calculating Cost of Goods Manufactured (MUST POST FIRST) In

Question

Internet Case 16.3 – Calculating Cost of Goods Manufactured

(MUST POST FIRST) Initial Post – As an employee, write an internal memo to your manager addressing the following:

Using the Internet, locate the most recent financial report of any 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. Write an initial post by responding to the following:

1. What categories of inventory does the company show in its inventories footnote under “Notes to Consolidated Financial Statements”?

2. Using the income statement and inventory information from the footnote, calculate the cost of finished goods manufactured for the most recent year.

3. What elements of manufacturing overhead can you identify using the annual report?

Explanation / Answer

ANSWER:

Here we have to assume a company which is related to manufacture the product that is "General Motor Company".

case-1:

Here we are choosen the General Motors company which is manufacture the product related to motors .

General motors is a Global Automotive Company which these headquarters located at Detroit, Michigan, United states.

Case-2:

Here we have to calculate the finished goods,

case-3:

The most huge component of offers is material cost which makes up around 66% of the aggregate amount.the remaining bit incorporates work costs, deterioration, and amortization, building, and item guarantee and review battles.

December 31, 2017 December 31, 2016 Total productive material, supplies and work in process 4203 5008 Finished productive including service parts 6460 6032 Total inventors 4203+6460=10663 5008+6032=11040

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