Cost Definitions Picante, Inc., provided the following information for the last calendar year: Beginning inventory: Direct materials $28,000 Work in process 46,800 Ending inventory: Direct materials $16,800 Work in process 20,800 During the year, direct materials purchases amounted to $252,000, direct labor cost was $160,000, and overhead cost was $300,800. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 37,200 X 2. Calculate the cost of goods manufactured. 3. Of the unit manufacturing cost calculated in Requirement 2, $6.58 is direct materials and $7.52 is overhead. If required, round intermediate calculations and your final answers to the nearest cent. What is the prime cost per unit? per unit What is the conversion cost per unit? per unit