Cost of Goods Sold, Cost of Goods Manufactured

Timbuk 3 Company 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

Part 1: Cost of Goods Manufactured a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured Timbuk 3 Company Work in process inventory, March 1 Cost of direct materials used in production Direct labor Factory overheadY Total manufacturing costs incurred during March Total manufacturing costs Less work in process inventory, March 31 Cost of goods manufactured