Exercise 4-5 The following T-accounts record the operations of Crane Co.: Assume all raw materials are direct materials. Raw Materials Beginning Balance 10,000 60,000 Ending Balance12,000 Work in Process Beginning Balance15,000 Direct Material Direct Labor Overhead 48,000 72,000 Ending Balance 23,000 Finished Goods Beginning Balance 25,000 ??72? Ending Balance 16,000 (a) Calculate the amount of direct materials purchased during the period