2. The Timberlake Company has the following information for August: Cost of direct materials used in production Direct labor Factory overhead WIP, August 1 WIP, August 31 Finished goods, August 1 Finished goods, August 31 $25000 35000 20000 30000 25000 15000 12000 Determine: SHOW ALL WORK a. Cost of goods manufactured $ b. Cost of goods sold $ 16. Underabsorbed factory overhead occurs when the applied factory overhead amount is more than the actual factory overhead amount