5 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 12.5 points Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Materials purchased Direct labor Factory overhead $ 7,500 13,600 9,300 $ 10,000 10,600 7,500 eBook References $130,000 102,300 41,400 Cost of Direct Material Used is Computed as: Activity during current year Materials purchased Direct labor Factory overhead Cost of Direct Material Used is Computed as: Direct materials used Finished goods inventory Raw materials available for use Raw materials inventory, beginning