Internet Case 16.3 – Calculating Cost of Goods Manufactured (MUST POST FIRST) Initial Post – As...
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 Pfizer. Write an initial post by responding to the following: 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?
Homework Answers
Answer
The majority of Pfizer’s revenues come from the manufacture and sale of biopharmaceutical products. . They list three categories of inventory on their annual report, they are listed below along with their 2017 & 2016 numbers (in millions).
- Raw Materials 2017 - $ 788, 2016 - $793
- Work in Progress 2017 - $3,908, 2016 - $3,696
- Finished Goods 2017 - $2,883, 2016 - $2,293
The Cost of Goods Manufactured is calculated as below
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Internet Case 16.3 – Calculating Cost of Goods Manufactured
(MUST POST FIRST) Initial Post – As...
Internet Case 16.3 – Calculating Cost of Goods Manufactured (MUST POST FIRST) Initial Post – As...
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