Data for the cost of direct materials for the month ended March 31, 2010, are as follows:
During March, the company purchased $240,000 of raw materials on account from Reed Company and $72,000 of raw materials for cash from Frye Company. In addition, $50,000 was paid on the Reed account balance.
Instructions
Compute the cost of direct materials used during March.

Question

Data for the cost of direct materials for the month ended March 31, 2010, are as follows:  
During March, the company purchased $240,000 of raw materials on account from Reed Company and $72,000 of raw materials for cash from Frye Company. In addition, $50,000 was paid on the Reed account balance.
Instructions
Compute the cost of direct materials used during March.

Quizplus · Accepted Answer

The Answer of Data for the cost of direct materials for the month ended March 31, 2010, are as follows:  
During March, the company purchased $240,000 of raw materials on account from Reed Company and $72,000 of raw materials for cash from Frye Company. In addition, $50,000 was paid on the Reed account balance.
Instructions
Compute the cost of direct materials used during March.

Data for the Cost of Direct Materials for the Month