19 Served Help Save & E 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 $ 7,500 14,800 10,500 Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Materials purchased Direct labor Factory overhead $ 10,980 11,600 6,400 $ 131,000 184,400 42,900 Cost of Direct Material Used is Computed as: 1 of 10 Next > O BI g earch