A firm used $70,000 in direct materials, $120,000 of direct labor and factory overhead was $110,000. The beginning goods in process inventory was $25,000 and the ending goods in process inventory was $15,000. Which of the following is true? Conversion costs are $95,000 O Prime costs are $190,000 O Prime costs are $180,000 O Cost of goods manufactured are $340,000 Question 40 1 pts A firm used $70,000 in direct materials, $120,000 of direct labor and factory overhead was $110,000. The beginning goods in process inventory was $25,000 and the ending goods in process inventory was $15,000. Which of the following is true? Conversion costs are $230,000 O Prime costs are $180.000 O Conversion costs are $180.000 Cost of goods manufactured are $340,000