ACCT 203 has the following information for March:

Cost of direct materials used in production $21,000

Direct labor 54,250

Factory overhead 35,000

Work in process inventory, March 1 87,500

Work in process inventory, March 31 92,750

Finished goods inventory, March 1 36,750

Finished goods inventory, March 31 42,000

For March, determine (a) the cost of goods manufactured and (b) the cost of goods sold.

(a)

Work in process inventory, March 1:

Cost of direct materials used in production:

Direct labor:

Factory overhead:

Total manufacturing costs incurred during March:

Total manufacturing costs:

Less Work in Process inventory, March 31:

Cost of goods manufactured:

(b)

Finished goods inventory, March 1:

Cost of goods manufactured:

Cost of finished goods available for sale:

Less finished goods inventory, March 31:

Cost of goods sold: