Cost Of Goods Manufactured; Prime and Conversion Costs. Madeira Company’s purchases of materials during March totaled $110,000, and the cost of goods sold for March was $345,000. Factory overhead was 50% of direct labor cost. Other information pertaining to Madeira Company’s inventories and production for March is as follows: LO8 Inventories:

Beginning Ending Finished Goods.

. $102,000

$105,000 Work in Process.

. 40,000 36,000 Materials.

. 20,000 26,000 Required:

(1) Prepare a schedule of cost of goods manufactured.

(2) Compute the prime cost charged to Work in Process.

(3) Compute the conversion cost charged to Work in Process.