Reference no: EM131774589

Problem - Income statement and schedule of cost of goods manufacture. The Howell Corporation Howell Corporation has the following account balances (in millions)

For Specific Date For Year 2009

Direct materials inventory, Jan 1, 2009 $15 Purchases of Direct Materials $325

Work-in-process inventory, Jan 1, 2009 $10 Direct manufacturing labor $100

Finished goods inventory, Jan 1, 2009 $70 Depreciation - plant and equipment $80

Direct Materials Inventory, Dec 31,2009 $20 Plant supervisor salaries $5

Work-in-process inventory, Dec 31,2009 $5 Miscellaneous plant overhead $35

Finished goods inventory, Dec 31,2009 $55 Revenues $950

Marketing, distribution, and suctomer service costs $240

Plant Supplies used $10

Plant utilities $30

Indirect manufacturing labor $60

Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2009.