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 inventory account is used only for direct materials. (Assume no Indirect materials.) January 1 December 31 Inventories Raw materials inventory $ 7,100 Work in process inventory $ 11,500 13,600 9,800 Finished goods inventory 10,700 5,800 Activity during current year Materials purchased 5126,500 Direct labor 98,400 Factory overhead 43,200 Cost of Direct Material Used is Computed as