Information about India Company for the month ending December 31, 2014 is as follows:

Sales $650,000

Cost of goods sold 452,000

Net income 35,000

Beginning inventories:

Direct materials 50,000

Work in process 42,000

Finished goods 70,000

Ending direct materials is 20 percent smaller than beginning direct materials. Ending work in process is 10 percent more than the beginning work in process. Ending finished goods increased by $11,000 during the year. Prime costs and conversion costs are 70 percent and 60 percent of total manufacturing costs added, respectively.

Assume no income taxes

Prepare a statement of costs of goods manufactured for December

Prepare a gross profit income statement for December

Calculate prime costs

Calculate conversion costs