Problem
Data for the cost of direct materials for the month ended March 31, 2022, are as follows:
Raw materials inventory, March 1, 2022 $92,720
Raw materials inventory, March 31, 2022 85,400
During March, the company purchased $317,200 of raw materials on account from Wildhorse Company and $112,240 of raw materials for cash from Blossom Company. In addition, $61,000 was paid on the Wildhorse account balance. (Assume all raw materials used were direct materials.)
Compute the cost of direct materials used during March.