Flow of inventoriable costs Hofstra Plastics Inc s selected data for
Flow of inventoriable costs. Hofstra Plastics Inc.’s selected data for the month of August 2013 are presented below (in millions):
Work-in-process inventory, August 1, 2013 .......... $ 200
Direct materials inventory, August 1, 2013 .......... 90
Direct materials purchased ................. 360
Direct materials used .................... 375
Variable manufacturing overhead ............. 250
Total manufacturing overhead .............. 480
Total manufacturing costs incurred during August 2013 .... 1,600
Cost of goods manufactured ................ 1,650
Cost of goods sold .................... 1,700
Finished goods inventory, August 1, 2013 ........... 125
REQUIRED
Calculate the following costs:
1. Direct materials inventory on August 31, 2013.
2. Fixed manufacturing overhead costs for August.
3. Direct manufacturing labour costs for August.
4. Work-in-process inventory on August 31, 2013.
5. Cost of goods available for sale in August.
6. Finished goods inventory on August 31, 2013.
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