Current assets $175,000 P2.53B (LO 1, 4) The following incomplete data are for Atlantic Pride Manufacturing: Calculate prime cost, conversion cost, and cost of goods manufactured. January 1, 2020 December 31, 2020 Direct materials $40,000 $60,000 Work in process 80,000 50,000 Finished goods 56,000 70,000 Additional information for 2020: Direct materials $200,000 Direct manufacturing labour payroll 160,000 Direct manufacturing labour rate per hour 10 Factory overhead rate per direct manufacturing labour hour 8 Instructions Calculate the following manufacturing costs for 2020: (a) prime cost, (b) conversion cost, and (c) cost of goods manufactured