5 QS 14-12 Direct materials used LO P2 5 points Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. (Assume no Indirect materials.) January 1 December 31 Inventories Raw materials inventory $ 8,600 $ 10,400 Work in process inventory 15,000 10,000 Finished goods inventory 9.800 6,800 Activity during current year Materials purchased $136,000 Direct labor 98,000 Factory overhead 45,300 eBook Hint References Cost of Direct Material Used is Computed as: 0 0 QS 14-12 Direct materials used LO P2 Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inve account is used only for direct materials. (Assume no indirect materials.) January 2 December 31 Inventories Raw materials inventory $ 8,600 $ 10,400 Work in process inventory 15,000 10,000 Finished goods inventory 9,800 6,800 Activity during current year Materials purchased $136,000 Direct labor 98,000 Factory overhead 45,300 Cost of Direct Material Used is Computed as: 0 Direct materials used Finished goods inventory Raw materials available for use Raw materials inventory, beginning Work in process inventory