1. Information about Daniel Enterprises for the month ending December 31, 2019, is as follows: Sales $600,000 Selling and administrative expenses 36,000 Net operating income 16,000 Beginning inventories: Direct materials 40,000 Work in process 36,000 Finished goods 124,000 Ending direct materials is 10 percent larger than beginning direct materials. Ending work in process is half of the beginning work in process. Ending finished goods increased by $12,000 during the year. Prime costs and conversion costs are 60 percent and 70 percent of total manufacturing costs added, respectively. Assume no income taxes or indirect materials. Required: a. Prepare a statement of cost of goods manufactured for December, b. Prepare an absorption income statement for December c. Calculate conversion costs. d. Calculate prime costs