Monterey Manufacturing Company reported the following materials data for the month ending October 31, 2010: Materials purchased

Question:

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.