Zee corporation had 3600 units one-third completed at the beginning of the period, 12000 units were completed and transferred during the period. 2000 units were one-fifth completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period:

Work in process, beginning of period ($8.00 per unit for Direct Materials):$37,000

Costs added during the period:

Direct Materials $83,200

Direct Labor 62,000

Factory Overhead 24,800

Assume that all direct materials are placed in process at the beginning of production and Zee Corporation uses FIFO method of inventory costing.

What is the total cost of the beginning inventory for direct materials?