A company compiled the following information for the current year. (Assume that all raw materials used...

 

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A company compiled the following information for the current year. (Assume that all raw materials used were direct materials.) Raw materials inventory. January 1 $30,000 Raw materials inventory, 60,000 December 31 Work in process inventory. 27.000 January 1 Work in process inventory, 18.000 December 31 Finished goods inventory. 60,000 January 1 Finished goods inventory, 48,000 December 31 Raw materials purchases 1,800,000 Direct labor 890.000 Factory utilities 225,000 Indirect labor 75,000 Factory depreciation 500,000 Operating expenses 630,000 What is the cost of direct materials used during the period? A company compiled the following information for the current year. (Assume that all raw materials used were direct materials.) Raw materials inventory. January 1 $30,000 Raw materials inventory, 60,000 December 31 Work in process inventory. 27.000 January 1 Work in process inventory, 18.000 December 31 Finished goods inventory. 60,000 January 1 Finished goods inventory, 48,000 December 31 Raw materials purchases 1,800,000 Direct labor 890.000 Factory utilities 225,000 Indirect labor 75,000 Factory depreciation 500,000 Operating expenses 630,000 What is the cost of direct materials used during the period?

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