Armidale Comfort manufactures and sells high quality tables made of pine wood. The companys 2021 books contain the following information:

Information about treated pine wood:

Beginning inventory $200,000

Purchases $616,000

Ending inventory $104,000

manufacturing labor cost (direct) $160,000

combined cost of labor and materials (both indirect) cost $120,000

Work-in-process/progress (WIP) inventory (opening) $8,000

Work-in-process/progress (WIP) inventory (closing) $40,000

Inventory of completed tables (opening) $240,000

Inventory of completed tables (closing) $160,000

Required: Using the information given in the question, work out the following for the year 2021:

a. Total cost of the pine wood used during the year?

b. The cost goods manufactured for the year?

c. The cost of goods sold for the year?

d. The total of the prime cost and the conversion cost for the year, showing each separately as well?

e. Define Prime cost and Conversion cost in your own words.