47. (CGM and CGS) Holiday Products Company had the following inventory balances at the beginning and end of March 2000:

March 1, 2000 March 31, 2000 Raw Materials Inventory $12,000 $16,000 Work in Process Inventory 68,000 84,000 Finished Goods Inventory 32,000 24,000 All raw materials are direct to the production process. The following information is also available about March manufacturing costs:

Cost of raw materials used $128,000 Direct labor cost 162,000 Factory overhead 116,000

a. Calculate the cost of goods manufactured for March.

b. Determine the cost of goods sold for March.