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QS 14-16 Computing direct materials used 1 P2 Use the following information to compute the cost of direct materials used for the current year. Note:
QS 14-16 Computing direct materials used 1 P2 Use the following information to compute the cost of direct materials used for the current year. Note: Assume all raw materials were used as direct materials. Note: Net sales were 400,000 dollars. Calculate raw materials available for use. Calculate direct materials used. What are total manufacturing costs? What is cost of goods manufactured for the year. Calculate cost of goods sold. Calculate gross profit
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