Data for the cost of direct materials for the month ended March 31, 2013, are as follows:

Exercise 31

Data for the cost of direct materials for the month ended March 31, 2013, are as follows:

Materials inventory, March 1, 2011		$76,000
Materials inventory, March 31, 2011		70,000

During March, the company purchased $240,000 of raw materials on account from Reed Company and $92,000 of raw materials for cash from Frye Company. In addition, $50,000 was paid on the Reed account balance. Compute the cost of direct materials used during March.