Assuming the densities of the water in the bucket and the density of the plastic are constant, and that no water spills out of the bucket when the plastic is placed in the bucket, then
$$W_{Tot}=ρ_{w}V_{w}+ρ_{p}V_{p}$$
Where $W_{Tot}$ = Total weight of the combination of the water and plastic in the bucket (ignoring the weight of the empty bucket, i.e., the container), in terms of the volumes and densities of the water and plastic, denoted by subscripts $w$ and $p$ respectively.
The first term on the right side is the weight of the plastic outside the bucket and the second term is the weight of the bucket of water without the plastic floating in it. Although the weight of the plastic decreases when placed in bucket due to the buoyant force acting upward, at the same time the weight of the bucket that now includes the plastic increases by an equal amount, so that the combined weight is still the same as the sum of the weights of each by themselves.
The above assumes that no water spills out of the bucket when the plastic is placed in the water. If before putting the plastic in the bucket the bucket was filled to the rim with water, then the water displaced by the plastic will spill out of the bucket, reducing the total weight. In this case, the reduction in total weight exactly equals the reduction in the weight of the plastic floating in the water.
Hope this helps.