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The Clark Corporation had the following account balances (it uses the actual costing system): ? Raw Material Bal.1/1 25,000 330,000 Bal.12/31 40,000 ? Factory Wages Payable 66,000 Bal.1/1 10,000 60,000 Bal.12/31 4,000 Work in Process Bal. 1/1 60,000 Direct 300,000 material Direct labor 50,000 Overhead 350,000 Bal.12/31 310,000 Finished Goods Bal. 1/1 20,000 ? Bal. 12/31 90,000 Cost of Goods Sold ? ? What was the cost of raw material put into production during the year? QUESTION 20 Refer to Clark Corporation. What is the prime cost incurred during the year? QUESTION 21 Refer to Clark Corporation. What is the conversion cost incurred during the year? QUESTION 22 Refer to Clark Corporation. What was the cost of goods manufactured for the year? QUESTION 23 Refer to Clark Corporation. What was the cost of goods sold for the year