Hofstra Plastics Inc.'s selected data for the month of August 2022 are shown in the provided table (in millions). (Click the icon to view the data.) Required Requirement 1. Calculate direct materials inventory on August 31, 2022. Determine the formula and then calculate the direct materials inventory value at August 31, 2022. (Work in millions. Use a minu Direct materials inventory, August 1, 2022 S August 2022 data 90 Direct materials purchased Direct materials available for production Direct materials used 360 Work-in-process Inventory, August 1, 2022 Direct materials inventory. August 1, 2022 $ 200 90 450 (375) 75 Direct materials purchased Direct materials used 360 375 Direct materials Inventory. August 31, 2022 Variable manufacturing overhead 250 Total manufacturing overhead 480 480 Requirement 2. Calculate fixed manufacturing overhead costs for August. (Work in millions. Use a minus sign or parentheses f Total manufacturing overhead costs Variable manufacturing overhead costs (250) Total manufacturing costs incurred during August 2022 Cost of goods manufactured Cost of goods sold 1,600 1,650 1,700 $ 230 Fixed manufacturing overhead costs Finished goods inventory, August 1, 2022 200 Requirement 3. Calculate direct manufacturing labour costs for August. Choose the labels used to calculate direct manufacturing labour cost and then calculate the costs for the month of August. (Wor Total manufacturing costs incurred Less: Direct materials used Total manufacturing overhead costs $ 1,600 (375) (480) 745 Print Done