Howell Ltd has the following account balances (in millions):

Required
Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended 31 December 2015. (For additional questions regarding these facts, see the next problem.)

Transcribed Image Text:

For specific date For year 2015 Purchases of direct m Direct manufacturing labour Depreciation- plant building £15 10 Direct materials, 1 January 2015 Work in progress, 1 January 2015 Finished goods, 1 January 2015 Direct materials, 31 December 2015 Work in progress, 31 December 2015 Finished goods, 31 December 201.5 aterials £325 and equipment Plant supervisory salaries Miscellaneous plant overhead Revenues Marketing, distribution and 100 80 35 20 950 customer-service costs Plant supplies used Plant utilities Indirect manufacturing labour 240 10 30 60