Flow of Inventoriable Costs

Renka's Heaters selected data for October 2014 are presented here (in millions):

Direct materials inventory 10/1/2014 $ 105

Direct materials purchased 365
Direct materials used 385
Total manufacturing overhead costs 450
Variable manufacturing overhead costs 265
Total manufacturing costs incurred during October 2014 1,610
Work-in-process inventory 10/1/2014 230
Cost of goods manufactured 1,660
Finished goods inventory 10/1/2014 130
Cost of goods sold 1,770

Required: Calculate the following costs:
1. Direct materials inventory 10/31/2014
2. Fixed manufacturing overhead costs for October 2014
3. Direct manufacturing labor costs for October 2014
4. Work-in-process inventory 10/31/2014
5. Cost of finished goods available for sale in October 2014
6. Finished goods inventory 10/31/2014

(All numbers below are in millions).

1.
Direct materials inventory 10/1/2014 $ 105
Direct materials purchased 365
Direct materials available for production 470
Direct materials used (385)
Direct materials inventory 10/31/2014 $ 85

2.
Total manufacturing overhead costs $ 450
Subtract: Variable manufacturing overhead costs (265)
Fixed manufacturing overhead costs for October 2014 $ 185

3.
Total manufacturing costs $ 1,610
Subtract: Direct materials used (from requirement 1) (385)
Total manufacturing overhead costs (450)
Direct manufacturing labor costs for October 2014 $ 775

4.
Work-in-process inventory 10/1/2014 $ 230
Total manufacturing costs 1,610
Work-in-process available for production 1,840
Subtract: Cost of goods manufactured (moved into FG) (1,660)
Work-in-process inventory 10/31/2014 $ 180

5.
Finished goods inventory 10/1/2014 $ 130
Cost of goods manufactured (moved from WIP) 1,660
Cost of finished goods available for sale in October 2014 $ 1,790

6.
Finished goods available for sale in October 2014
(from requirement 5) $ 1,790
Subtract: Cost of goods sold (1,770)
Finished goods inventory 10/31/2014 $ 20