Cost of Goods Manufactured, Income Statement labor

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

For specific date
Direct materials inventory, 1 January 2019	$15
Work-in-process inventory, 1 January 2019	10
Finished goods inventory, 1 January 2019	70
Direct materials inventory, 31 December 2019	20
Work-in-process inventory, 31 December 2019	5
Finished goods inventory, 31 December 2019	55
For year 2019
Purchases of direct materials	$325
Direct manufacturing labour	100
Depreciationplant and equipment	80
Plant supervisory salaries	5
Miscellaneous plant overhead	35
Revenues	960
Marketing, distribution, and customer service costs	240
Plant supplies used	10
Plant utilities	30
Indirect manufacturing labor	60

Required:

develop worksheets in a workbook to calculate and present the above data in the correct format to the management of Max Ltd as follows:

1. Set up a separate worksheet for the data and enter it as above.
2. provide a separate schedule (worksheet) to calculate the cost of goods manufactured - make sure that you provide correct headings and titles for the schedule
3. Provide an income statement (in a separate worksheet) for the year ended 31 December 2019.

Important!!

Your final workbook (spreadsheet) when ready to submit should include the following sheets:

• Data
• Cost of Goods Manufactured
• Income Statement

Make sure that your data links across each of your worksheets, that is, DO NOT type in the amount that you have calculated in a previous sheet when it applies to the one you are preparing. Eg. Your total calculation for the Cost of Goods Manufactured needs to be linked to the correct cell in the Income Statement.