2 The following information pertains to Art Company's manufacturing operations: Inventories 3/31/19 3/1/19 Direct Materials Work in process Finised goods 30,000 36,000 18,000 12,000 72,000 54,000 Additional information for the month of March 2019: Direct materials purchased Direct mnufacturing labor payroll Direct manufacturing labor rate per hour Factory overhead rate per direct labor hour 84,000 60,000 7.50 10.00 Required: Compute: a. Prime cost b. Conversion cost Cost of goods manufactured c