Solved: Determine the cost of direct materials used in production, Cost Accounting

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Determine the cost of direct materials used in production

Monterey Manufacturing Company reported the following materials data for the month ending October 31, 2010:
Materials purchased ...............................$160,000
Materials inventory, October 1 .................. 50,000
Materials inventory, October 31 ................. 42,000
Determine the cost of direct materials used in production by Monterey during the month ended October 31, 2010.

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Cost Accounting: Determine the cost of direct materials used in production

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