Timbuk 3 Company has the following information for March:

Cost of goods sold, cost of goods manufactured

Timbuk 3 Company has the following information for March:

Cost of direct materials used in production	21000
Direct labor	54250
Factory overhead	35000
Work in process inventory, March 1	87500
Work in process inventory, March 31	92750
Finished goods inventory, March 1	36750
Finished goods inventory, March 31	42000

a. For March, determine the cost of goods manufactured.

Using the dada given, prepare a statement of cost of goods manufactured.

b. For March, determine the cost of goods sold.

Using the data given, prepare a statement of cost of goods sold.