In July, Econo Company purchased materials costing $18,400 and incurred direct labor costs of $72,000....
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Accounting
In July, Econo Company purchased materials costing $18,400 and incurred direct labor costs of $72,000. Overhead totaled $32,700 for the month. Information on inventories was as follows: July 1 July 31
Materials $5,400 $5,200
Work in process $ 700 $1,200
Finished goods $3,100 $2,700
What was the cost of direct materials used in July? Note. Enter numbers only-- do not use a dollar sign ($) or comma.
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