Using the excerpts below from PepsiCo.'s Financial Statements and Notes to Financial Statements from its 2020...

  

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Using the excerpts below from PepsiCo.'s Financial Statements and Notes to Financial Statements from its 2020 annual report, answer the following (NOTE: all numbers given in the excerpts are in $millions): a. If PepsiCo purchased $15,983 million worth of 'Raw materials and packaging' during the fiscal year ended 12/26/2020, how much 'Raw materials and packaging" did they use during the fiscal year ended 12/26/2020? Assume all 'Raw materials and packaging' were used as direct materials. Calculate the 'Cost of Goods Manufactured' for PepsiCo for the fiscal year ended 12/26/2020. Using your answer to part b, calculate the 'Total Manufacturing Costs' for PepsiCo for the fiscal year ended 12/26/2020. b. C. Consolidated Balance Sheet PepsiCo, Inc. and Subsidiaries December 26, 2020 and December 28, 2019 (in millions except per share amounts) ASSETS Current Assets Cash and cash equivalents Short-term investments Accounts and notes receivable, net Inventories Prepaid expenses and other current assets Total Current Assets Note 15- Supplemental Financial Information Balance Sheet Inventories (d) Raw materials and packaging Work-in-process Finished goods Total $ $ 2020 8,185 $ 5,509 229 1,366 8,404 4,172 874 23,001 2020 1,720 205 2,247 4,172 2019 $ 7,822 3,338 747 17,645 2019 1,395 200 1,743 3,338 Consolidated Statement of Income PepsiCo, Inc. and Subsidiaries Fiscal years ended December 26, 2020, December 28, 2019 and December 29, 2018 (in millions except per share amounts) Net Revenue Cost of sales Gross profit Selling, general and administrative expenses Operating Profit Other pension and retiree medical benefits income/(expense) Net interest expense and other Income before income taxes Provision for/(benefit from) income taxes (See Note 5) Net income Less: Net income attributable to noncontrolling interests Net Income Attributable to PepsiCo $ 2020 2019 70,372 $ 67,161 $ 31,797 30,132 38,575 37,029 28,495 26,738 10,080 10,291 117 (1,128) 9,069 9,312 1,894 1,959 7,175 7,353 55 39 $ 7,120 $ 7,314 $ 12,515 2018 64,661 29,381 35,280 25,170 10,110 (44) (935) 298 (1,219) 9,189 (3,370) 12,559 44 SOURCE: you can download the 2020 annual report here: https://www.pepsico.com/docs/album/annual-reports/pepsico-inc-2020-annual-report.pdf? sfvrsn=d25439e4 4 Using the excerpts below from PepsiCo.'s Financial Statements and Notes to Financial Statements from its 2020 annual report, answer the following (NOTE: all numbers given in the excerpts are in $millions): a. If PepsiCo purchased $15,983 million worth of 'Raw materials and packaging' during the fiscal year ended 12/26/2020, how much 'Raw materials and packaging" did they use during the fiscal year ended 12/26/2020? Assume all 'Raw materials and packaging' were used as direct materials. Calculate the 'Cost of Goods Manufactured' for PepsiCo for the fiscal year ended 12/26/2020. Using your answer to part b, calculate the 'Total Manufacturing Costs' for PepsiCo for the fiscal year ended 12/26/2020. b. C. Consolidated Balance Sheet PepsiCo, Inc. and Subsidiaries December 26, 2020 and December 28, 2019 (in millions except per share amounts) ASSETS Current Assets Cash and cash equivalents Short-term investments Accounts and notes receivable, net Inventories Prepaid expenses and other current assets Total Current Assets Note 15- Supplemental Financial Information Balance Sheet Inventories (d) Raw materials and packaging Work-in-process Finished goods Total $ $ 2020 8,185 $ 5,509 229 1,366 8,404 4,172 874 23,001 2020 1,720 205 2,247 4,172 2019 $ 7,822 3,338 747 17,645 2019 1,395 200 1,743 3,338 Consolidated Statement of Income PepsiCo, Inc. and Subsidiaries Fiscal years ended December 26, 2020, December 28, 2019 and December 29, 2018 (in millions except per share amounts) Net Revenue Cost of sales Gross profit Selling, general and administrative expenses Operating Profit Other pension and retiree medical benefits income/(expense) Net interest expense and other Income before income taxes Provision for/(benefit from) income taxes (See Note 5) Net income Less: Net income attributable to noncontrolling interests Net Income Attributable to PepsiCo $ 2020 2019 70,372 $ 67,161 $ 31,797 30,132 38,575 37,029 28,495 26,738 10,080 10,291 117 (1,128) 9,069 9,312 1,894 1,959 7,175 7,353 55 39 $ 7,120 $ 7,314 $ 12,515 2018 64,661 29,381 35,280 25,170 10,110 (44) (935) 298 (1,219) 9,189 (3,370) 12,559 44 SOURCE: you can download the 2020 annual report here: https://www.pepsico.com/docs/album/annual-reports/pepsico-inc-2020-annual-report.pdf? sfvrsn=d25439e4 4

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