1. QUESTION 1 Items 1, 2, 3 and 4 are based on the following information pertaining to Arp Co's manufacturing operation: Inventories Direct Material Work-in-process Finished Goods 3/1/2018 3/31/2018 $36,000 $30,000 $18,000 $12,000 $54,000 $72,000 Additional information for the month of March 2018: Direct material purchased $84,000 Direct labor payroll 60,000 Direct labor rate per hour 7.50 Factory overhead rate per direct hour 10.00 1. 1. $90,00 0 $120,0 00 $144,0 00 $150,0 00 For the month of March 2018, prime cost was QUESTION 2 For the month of March 2018, conversion cost was $90,00 0 $140,0 00 $144,0 00 $170,0 00 7.7 points