Question: Hofstra Plastics' selected data for October 2020 are presented here (in millions): (Click the icon to view the data.) - Data Table Read the requirements.

 Hofstra Plastics' selected data for October 2020 are presented here (in

Hofstra Plastics' selected data for October 2020 are presented here (in millions): (Click the icon to view the data.) - Data Table Read the requirements. Direct materials inventory 10/1/2020 85 $ 85 Direct materials inventory, October 1, 2020 Direct materials purchased Direct materials purchased 340 340 Direct materials available for production 425 Direct materials used 350 Direct materials used (350) 490 $ 75 240 Direct materials inventory 10/31/2020 1,610 Requirement 2. Calculate the fixed manufacturing overhead costs for October 2020. Total manufacturing overhead costs Variable manufacturing overhead costs Total manufacturing costs incurred during October 2020 Work-in-process inventory, October 1, 2020 Cost of goods manufactured Finished goods inventory, October 1, 2020 Cost of goods sold 230 The fixed manufacturing overhead costs for October 2020 are $ 250 1,660 150 Requirement 3. Calculate the direct manufacturing labor costs for October 2020. 1,760 Total manufacturing costs incurred $ 1,610 Less: Direct materials used (350) Total manufacturing overhead costs (490) Requirements $ 770 Direct manufacturing labor costs for October Requirement 4. Calculate the cost of work-in-process inventory, October 31, 2020. Work-in-process inventory 10/1/2020 230 Total manufacturing overhead costs 490 Work-in-process available for production 230 Cost of goods manufactured 1660 Work-in-process inventory 10/31/2020 -710 Calculate the following costs: 1. Direct materials inventory, October 31, 2020 2. Fixed manufacturing overhead costs for October 2020 3. Direct manufacturing labor costs for October 2020 4. Work-in-process inventory, October 31, 2020 5. Cost of finished goods available for sale in October 2020 6. Finished goods inventory, October 31, 2020

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