S 14-5 (Algo) Identifying prime and conversion costs LO C2 A company manufactures guitars. Identify each of the following costs as either a prime cost, a conversion cost, or both. 1. Wood used to build the guitar body. 2. Wages paid to assembly workers. 3. Rent on factory building. 4. Plastic pick guard used in guitars. 5. Wages paid to workers that cut wood. 6. Tuners installed on guitars