Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) Assume the raw materials inventory account is used only for direct materials. Note: Assume all raw materials were used as direct materials beginning of Year End of Year Inventories Raw materials inventory Work in process inventory Tinished goods Inventory $ 6,200 12,400 8.900 $ 7.900 9.200 5,700 Activity during current year raw materiale purchased $ 123,900 Direct labor 94,200 Tactory overhead 39,600 QS 14-16 (Algo) Computing direct materials used LO P2 Compute the cost of direct materials used for the current year Cost of Direct Material Used is Computed as 0 $ 0