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 Wo

a. For March, determine the cost of goods manufactured.Timbuk 3 CompanyStatement of Cost of Goods ManufacturedWork in proess inventory, March 1  87500Cost of direct materials used in production21000 Direct labor54250 Factory overhead35000 Total manufacturing cost incurred during March 110250Total manufacturing costs 197750Less work in process inventory, March 31  -92750Cost of goods manufactured 105000b. For March, determine the cost of goods sold.Timbuk 3 CompanyStatement of Cost of Goods SoldFinished goods invenory, March136750Cost of goods manufactured105000Cost of finished goods available for sale 141750Less finished goods inventory, March31-42000Cost of goods sold 99750