ABC Company's selected data for the month of May 2008 are presented below:

Sales revenue $ 570,000 Finished goods, January 1, 2018 12,000 Direct material, January 1, 2018 24,000 Income tax expenses 54,000 Finished goods, December 31, 2018 30,000 Work-in-process, January 1, 2018 24,000 Direct material, December 31, 2018 15,000 Work-in-process, December 31, 2018 18,000 Purchase of direct material 108,000 Direct labor 120,000 Indirect manufacturing labor 9,000 Selling and administrative expenses 90,000 Amortization - Plant, property and equipment 36,000 Other manufacturing overhead 48,000 Indirect material 6,000 Required: Compute the cost of direct materials used in production. Compute the cost of goods manufactured. Compute the Cost of Goods Sold for the year. Compute the net income after taxes for the year. Compute prime cost. Compute conversion cost