QS 18-12 Direct materials used 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 January 1 December 31 Imentories Raw materials inventory $ 6,000 7,500 Work in process inventory 12,000 9,000 Finished goods inventory 8.500 5,500 Actility during current year Materials purchased. $123,500 Direct labor... 94.000 Factory overhead... 39.000 QS 18-13 Trends in managerial accounting C6 1192