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.