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 2018. 

Transcribed Image Text:

For specific date For year 2018 Direct materials, 1 January 2018 Work in progress, 1 January 2018 Finished goods, 1 January 2018 Direct materials, 31 December 2018 Work in progress, 31 December 2018 Finished goods, 31 December 2018 £15 Purchases of direct materials £325 Direct manufacturing labour Depreciation - plant building and equipment Plant supervisory salaries Miscellaneous plant overhead Revenues 10 100 70 20 80 5 55 35 950 Marketing, distribution and customer-service costs 240 Plant supplies used Plant utilities 10 30 Indirect manufacturing labour 60