Create an internal memo to manager to address what categories of inventory FitBit shows in their Notes to Consolidated Financial Statements, using the income statement to calculate the cost of finished goods manufactured, and what elements of manufacturing overhead can be identified using the reports?

(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 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. Write an initial post by responding to the following: 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? AabbCcD AaBbCcDAaBbCcDe AaBbccD AaBbCcD AaBbCcD AaBbccD AABBCCD AABBCCDE AaBbCcD Subtle Em... Emphasis Subtitle Intense E.. Strong Quote Intense Q Subtle Ref. Intense Re... Book Title Styles RT L FINANCIAL INFORMATION m1. Condensed Consolidated Financial Statements FITBIT, INC Condensed Consolidated Balance Sheets In thousands) (unaudited September 28, 2019 December 31, 2018 sets arrent assets Cash and cash equivalents 287,431 214,817 473,956 Marketable securities 249,493 Accounts receivable, tiet 414,209 345.562 Inventories 245.096 124,871 6957 Income tax receivables 965 Prepaid expenses and other curreat assets 33,376 42.325 Total current assets 1,127,247 88,232 71,529 1,311 811 roperty and equipment, net perating lease right-of-use assets Goodwill ntangible assets, net Deferred tax assets 106,286 60,979 60,979 17,319 23,620 3,925 4.489 Other assets 7.170 8,362 Total assets 1.376,601 1515.547 Liabilities and Stackholders' Equity urrent liabilities Accounts payable 263,181 251,637 365,812 437,234 Acerued liabilities 23,313 Operating lease labilities 29.400 28,076 Deferred revenue 1,092 986 Income taxes payable 681,368 719.383 Total current liabilities 6,174 7.436 Long-terts deferred revenue 70.202 29,883 Long-terma operating lease labilities 52,790 Other liabilities 787 627 779,609 Total liabilities Commitments and contingencies (Note 6) Stockholders equity Class A and Class B common stock 25 26 1,055,046 1,107,659 Addataoeal paid-in capital Accumulated other compeehensive income (loss) Accumulated deficit (66) (319,067) 232 (518,943) 588,974 735 938 Total stockholders equity 1.515,547 1.376,6011 Total liabilities and stockholders equity L bC AaBbCcD AoBbCcD AaBbCcD AoBbCcD AaBbCcD AaBbCcD AasbCcD AABBCCDE AABBCCD AaBbCcD Subtitle Subtle Em.. e Emphasis Intense E... 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Book Title Styles Table of Contents FITBIT, INC Notes to Condensed Consolidated Financial Statements (Continued) Revenue Returns Reserve Revenue returns reserve activities were as follows (in thousands): Three MMonth: Ended Nise Moatha Ended September 28, 2019 September 28, 2019 September 29, 2018 September 29, 201s Beginning balances 75,044 74,996 104,001 119.070 (148 922) 109,872 Increases () Returns taken Ending balances 41,945 (42,845) 43,383 (39,362) 78,517 106.385 (137.740) 78,517 74,144 74,144 Increases in the revnoe rebrs raarve inclade provisions for open box retums and stok rotations Inventories Inventories consisted of the following (in thousands) September 28, 2019 December 31, 2018 Componeats Finshed goods 6,304 8,866 116,005 124.871 238,592 Total inventories 245,096 Prepaid Espenses end Other Current Asset Prepaid expenses and other carrent assets conaisted of the following (in thousands) September 28 2019 December 31, 2015 Prepaid expenses Point-of-parchase (POP) displays, aet Prepasd marketing 18,100 10,841 3.467 5143 2,941 3.258 Derivative asset 775 623 15,2011 Other 15.352 Total prepaid expenses and other current assetsi 33,376 42.325 Property and Equipment, Net Property and equipment, net, conssted of the followng C thousands) December 31, 2018 Septeber 25, 2019 80 685 98 773 Toolmg and mantctnnne ensinment Annual Financials for Fitbit Inc. +View Ratios Fiscal year is January-December. All values USD milions 2015 2017 2014 2018 5-year trend 2016 Sales/Revenue 745 43M 163B 1.58 185B 2.16B Sales Growth 148.96% -798 % -24.33% 16.35% Cost of Goods Sold (COGS)) incl D&A 387 78M 907.06M 870 78M 908 4M 1.12B COGS excluding D&A 825 00M 381.65M 885 94M 851 59M 1,08B Depreciation & Amortization Expense 6 13M 21.11M 38.13M 45.69M 66 82M Depreciation 6.13M 48.89M 19 41M 35.05M 39 97M Amortization of intangibles 17M 2.09M 5.72M 793M Gross income 357 66M 948 77M 1.04B 763 27M 595.17M 2014 2015 2016 2017 2018 5-year trend SG&A Expense 804 10M 199.73M 56379M 957.07M 792.89M Research & Deveiopment 54 17M 150 04M 320 10M 34301M 332.17M 145.56M 41376M 636 8M 541 17M 460 72M Other S3&A 55 64M 185 43M Other Operating Expense 53 84M 3302M 10.41M 15.12M (240,000) Unusual Expense 296 32M (189 87M (197 47M (10.41M) EBIT after Unusual Expense T35M Non Operating Income/Expense (15 93M) 294,000 (8 42M) 5.52M 3 16M 3.65M Non-Operating Interest Income 781M Equity in Afliates (Pretax) Interest Expense 2 22M 102M I. Gross interest Expense 222M 1.02M Interest Capitalzed + Pretax Income 139.77M 287 95M (109.3M) (19464M) (184 14M) 104 PM (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 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. Write an initial post by responding to the following: 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? AabbCcD AaBbCcDAaBbCcDe AaBbccD AaBbCcD AaBbCcD AaBbccD AABBCCD AABBCCDE AaBbCcD Subtle Em... Emphasis Subtitle Intense E.. Strong Quote Intense Q Subtle Ref. Intense Re... Book Title Styles RT L FINANCIAL INFORMATION m1. Condensed Consolidated Financial Statements FITBIT, INC Condensed Consolidated Balance Sheets In thousands) (unaudited September 28, 2019 December 31, 2018 sets arrent assets Cash and cash equivalents 287,431 214,817 473,956 Marketable securities 249,493 Accounts receivable, tiet 414,209 345.562 Inventories 245.096 124,871 6957 Income tax receivables 965 Prepaid expenses and other curreat assets 33,376 42.325 Total current assets 1,127,247 88,232 71,529 1,311 811 roperty and equipment, net perating lease right-of-use assets Goodwill ntangible assets, net Deferred tax assets 106,286 60,979 60,979 17,319 23,620 3,925 4.489 Other assets 7.170 8,362 Total assets 1.376,601 1515.547 Liabilities and Stackholders' Equity urrent liabilities Accounts payable 263,181 251,637 365,812 437,234 Acerued liabilities 23,313 Operating lease labilities 29.400 28,076 Deferred revenue 1,092 986 Income taxes payable 681,368 719.383 Total current liabilities 6,174 7.436 Long-terts deferred revenue 70.202 29,883 Long-terma operating lease labilities 52,790 Other liabilities 787 627 779,609 Total liabilities Commitments and contingencies (Note 6) Stockholders equity Class A and Class B common stock 25 26 1,055,046 1,107,659 Addataoeal paid-in capital Accumulated other compeehensive income (loss) Accumulated deficit (66) (319,067) 232 (518,943) 588,974 735 938 Total stockholders equity 1.515,547 1.376,6011 Total liabilities and stockholders equity L bC AaBbCcD AoBbCcD AaBbCcD AoBbCcD AaBbCcD AaBbCcD AasbCcD AABBCCDE AABBCCD AaBbCcD Subtitle Subtle Em.. e Emphasis Intense E... Strong Quote Intense O... Subtle Ref... Intense Re... Book Title Styles Table of Contents FITBIT, INC Notes to Condensed Consolidated Financial Statements (Continued) Revenue Returns Reserve Revenue returns reserve activities were as follows (in thousands): Three MMonth: Ended Nise Moatha Ended September 28, 2019 September 28, 2019 September 29, 2018 September 29, 201s Beginning balances 75,044 74,996 104,001 119.070 (148 922) 109,872 Increases () Returns taken Ending balances 41,945 (42,845) 43,383 (39,362) 78,517 106.385 (137.740) 78,517 74,144 74,144 Increases in the revnoe rebrs raarve inclade provisions for open box retums and stok rotations Inventories Inventories consisted of the following (in thousands) September 28, 2019 December 31, 2018 Componeats Finshed goods 6,304 8,866 116,005 124.871 238,592 Total inventories 245,096 Prepaid Espenses end Other Current Asset Prepaid expenses and other carrent assets conaisted of the following (in thousands) September 28 2019 December 31, 2015 Prepaid expenses Point-of-parchase (POP) displays, aet Prepasd marketing 18,100 10,841 3.467 5143 2,941 3.258 Derivative asset 775 623 15,2011 Other 15.352 Total prepaid expenses and other current assetsi 33,376 42.325 Property and Equipment, Net Property and equipment, net, conssted of the followng C thousands) December 31, 2018 Septeber 25, 2019 80 685 98 773 Toolmg and mantctnnne ensinment Annual Financials for Fitbit Inc. +View Ratios Fiscal year is January-December. All values USD milions 2015 2017 2014 2018 5-year trend 2016 Sales/Revenue 745 43M 163B 1.58 185B 2.16B Sales Growth 148.96% -798 % -24.33% 16.35% Cost of Goods Sold (COGS)) incl D&A 387 78M 907.06M 870 78M 908 4M 1.12B COGS excluding D&A 825 00M 381.65M 885 94M 851 59M 1,08B Depreciation & Amortization Expense 6 13M 21.11M 38.13M 45.69M 66 82M Depreciation 6.13M 48.89M 19 41M 35.05M 39 97M Amortization of intangibles 17M 2.09M 5.72M 793M Gross income 357 66M 948 77M 1.04B 763 27M 595.17M 2014 2015 2016 2017 2018 5-year trend SG&A Expense 804 10M 199.73M 56379M 957.07M 792.89M Research & Deveiopment 54 17M 150 04M 320 10M 34301M 332.17M 145.56M 41376M 636 8M 541 17M 460 72M Other S3&A 55 64M 185 43M Other Operating Expense 53 84M 3302M 10.41M 15.12M (240,000) Unusual Expense 296 32M (189 87M (197 47M (10.41M) EBIT after Unusual Expense T35M Non Operating Income/Expense (15 93M) 294,000 (8 42M) 5.52M 3 16M 3.65M Non-Operating Interest Income 781M Equity in Afliates (Pretax) Interest Expense 2 22M 102M I. Gross interest Expense 222M 1.02M Interest Capitalzed + Pretax Income 139.77M 287 95M (109.3M) (19464M) (184 14M) 104 PM