Timbuk 3 Company has the following information for March: Cost of direct materials used in production $35,000 Direct labor 49,000 Factory overhead 36,000 Work in process inventory, March 1 24,000 Work in process inventory, March 31 27,360 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 13,000 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 24,000 35,000 Cost of direct materials used in production dropdown Direct labor 49,000 Factory overhead 36,000 Total manufacturing costs incurred during March $ Total manufacturing costs 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 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