The Majors Company has gathered the following information for the year ended December 31, 20X3. 
There were no beginning or ending inventories.
Required:
Calculate the following:
a. Prime cost
b. Conversion cost
c. Total product cost
d. Total period cost
Definitions:
Annual Compounding
Determining annual interest by taking into account both the initial amount invested and the interest it has generated in the past.
Compounded Monthly
The calculation of interest using the principal sum along with its accrued interest, with this process happening every month.
Investment
Disbursing funds or other assets with the aim of earning returns or profits.
Average Annual Rate
A financial term indicating the average amount of interest earned or paid per year over the life of an investment or loan.
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