IOU Manufacturing Company produces wallets. The following cost information is available for VARIOUS COSTS the period ended December 31, 19X3:

Materials put into production: $82,000, of which $78,000 was considered direct materials Factory labor costs for the period: $71,500, of which $12,000 was for indirect labor Factory overhead costs for factory depreciation: $50,000 Selling, general, and administrative expenses: $62,700 Units completed during the period: 18,000 Required:

Compute the following:

a Prime costs b Conversion costs c Product costs d_ Period costs 589