primeRequired : determine the following component costs for the period: prime cost, conversion cost, goods available for sale, work in process 15 Feb 2017

Zara Company's accounting records were partially destroyed in a fire accident on 15 February 2017. As a result, the accounting record needs to be estimated based on the limited financial information available: Direct materials used 270,000 Direct materials, 1/1/2017 158,000 Direct materials, 15/2/2017 272,000 Finished goods, 1/1/2017 354,000 Finished goods, 15/2/2017 205,000 Work-in-process, 1/1/2017 95,000 Factory overhead 165,000 Sales revenue 960,000 Direct manufacturing labour cost 75% of conversion costs Gross profit margin 12.5%