XYZ Company recorded the following information related to their inventory accounts for 2024: January 1 December 31 Direct materials inventory $29,000 $64,000 Work in process inventory $53,000 $12,000 Finished goods inventory $78,000 $35,000 XYZ Company's accounting records for 2024 provided the following information: Direct materials purchased .......... $ 96,000 Depreciation, office equipment ...... $ 14,000 Rent (see note below) ............... $ 35,000 Sales commissions ................... $ 47,000 Indirect materials ................. $ 22,000 Direct labor ....................... $111,000 Depreciation, factory equipment .... $ 14,000 Selling & administrative salaries .. $ 58,000 Utilities, factory building ........ $ 26,000 Advertising ........................ $ 29,000 Production supervisor's salary ..... $ 63,000 Note: 80% of the rent relates to the factory while 20% of the rent relates to the general office building. Calculate XYZ Company's prime costs for 2024.