Problem: Shaheen Plaastics, Inc.'s selected data for the month of August 2004 are presented below (in millions):
Work-in-process inventory 8/1/2004 $ 200
Direct materials inventory 8/1/2004 90
Direct materials purchased 360
Direct materials used 375
Variable manufacturing overhead 250
Total manufacturing overhead 480
Total manufacturing costs 1,600
Cost of good manufactured 1,650
Cost of goods sold 1,700
Finished goods inventory 8/1/2004 175
Calculate the following costs:
1. Direct materials inventory 8/31/2004
2. Fixed manufacturing overhead costs for August
3. Direct manufacturing labor costs for August
4. Work-in-process inventory 8/31/2004
5. Goods available for sale in August
6. Finsihed-goods inventory 8/31/2004