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The Custom Steel Company manufactures specialty cooking equipment for a variety of craft hot water...

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Accounting

The Custom Steel Company manufactures specialty cooking equipment for a variety of craft hot water applications. They typically pay for their raw materials 25% in the month of purchase, 50% in the month after purchase, and the remaining 25% two months after the purchase date. The direct materials purchasing information for June, July and August is given below:

June July August
$276,622 $260,921 $179,108

How much cash did Custom Steel company pay out for direct materials in August? Round your answer to the nearest whole dollar.

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