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 2022. (For additional questions regarding these facts, see the next problem.)

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For specific date Direct materials, 1 January 2022 15 Work in progress, 1 January 2022 Finished goods, 1 January 2022 10 70 Direct materials, 31 December 2022 Work in progress, 31 December 2022 Finished goods, 31 December 2022 20 5 For year 2022 Purchases of direct materials Direct manufacturing labour Depreciation plant building and equipment Plant supervisory salaries Miscellaneous plant overhead 325 100 80 5 35 55 Revenues 950 Marketing, distribution and 240 customer-service costs Plant supplies used 10 Plant utilities Indirect manufacturing labour 30 60