The following information for 2022 applies to Sue, Inc., which makes pet items:

a. Complete the T-accounts for raw materials, work in process, and finished goods.

b. What are prime costs?

c. What are conversion costs?

d. What is cost of goods manufactured?

e. What is the ending balance of the raw materials inventory?

f. What is the ending balance of the work in process inventory?

g. What is the ending balance of the finished goods inventory?

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Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning raw materials inventory Beginning WIP inventory Beginning finished goods inventory $70,000 $50,000 $90,000 $62,000 $146,000 $128,000 $10,000 $30,000 $20,000