Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: Cost of direct materials used in production $40,000 Direct labor 48,000 Factory overhead 35,000 Work in process inventory, March 1 25,000 Work in process inventory, March 31 29,600 Finished goods inventory, March 1 25,000 Finished goods inventory, March 31 15,000