QS 18-12 Direct materials used LO P2 Use the following information to compute the cost of direct materials used for the current year. (Assume no indirect materials.) January 1 December 31 $ 7,000 14,200 10,700 $ 11, 100 9,800 6,300 Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Materials purchased Direct labor Factory overhead $125,500 98,000 45,600 Cost of Direct Material is Computed as