Cost of direct materials used in production for a manufacturing company
Walker Manufacturing Company reported the following materials data for the month ending June 30:
Materials purchased $716,400
Materials inventory, June 1 202,000
Materials inventory, June 30 161,300
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below.
Determine the cost of direct materials used in production by Walker during the month ended June 30. Round your answer to the nearest dollar.