Use the following information to compute the cost of direct materials used for the current year. (Assume no indirect materials.)
January 1 December 31
Inventories
Raw materials inventory $6,000 7,500
Work in process inventory 12,000 9,000
Finished goods inventory 8,500 5,500
Activity during the current year
Materials purchased $123,500
Direct labor 94,000
Factory overhead 39000
Answers: 2
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Use the following information to compute the cost of direct materials used for the current year. (As...
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