Sharp Enterprises

Inventories: March 1 March 31

Raw material $18,000 $15,000

Work in process 9,000 6,000

Finished goods 27,000 36,000

Additional information for March:

Raw material purchased $42,000

Direct labor payroll 30,000

Direct labor rate per hour 7.50

Overhead rate per direct labor hour 10.00

Required:

1.For March, prime cost incurred was

2.For March, conversion cost incurred was

3.For March, Cost of Goods Manufactured was