managerial accounting

ments > Alnoor_Bhimani Management arX + _resource/content/1/Management Accounting%20%28EAS%20303%29.pdf Miscellaneous plant overhead 18 Income statement and schedule of cost of goods manufactured. [25-30 minutes) Howell Ltd has the following account balances (in millions): For specific date For year 2008 Direct materials, 1 January 2008 615 Work in progress, 1 January 2008 10 Finished goods, 1 January 2008 70 Direct materials, 31 December 2008 20 Work in progress, 31 December 2008 S Finished goods, 31 December 2008 SS Purchases of direct materials Direct manufacturing labour Depreciation - plant building and equipment Plant supervisory salaries Miscellaneous plant overhead Revenues Marketing, distribution and customer service costs Plant supplies used Plant utilities Indirect manufacturing labour Required Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended 31 December 2008. (For additional questions regarding these facts, see the next problem.)