Timbuk 3 Company has the following information for March:

Cost of direct materials used in production	$45,000
Direct labor	57,000
Factory overhead	31,000
Work in process inventory, March 1	37,000
Work in process inventory, March 31	39,100
Finished goods inventory, March 1	25,000
Finished goods inventory, March 31	19,000

a. For March, determine the cost of goods manufactured.

Using the data given, prepare a statement of Cost of Goods Manufactured.

Timbuk 3 Company Statement of Cost of Goods Manufactured Work in process inventory, March 1 37,000 Cost of direct materials used in production $ 45,000 Direct labor 57,000 Factory overhead 31,000 Total manufacturing costs incurred during March 133,000 Total manufacturing costs $ 170,000 Less work in process inventory, March 31 Cost of goods manufactured b. For March, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold. Timbuk 3 Company Statement of Cost of Goods Sold $ Cost of goods sold $