Cost of goods sold, cost of goods manufactured Timbuk 3 Company has the following information for March: Cost of direct materials used in production 21000 Direct labor 54250 Factory overhead 35000 Wo
Cost of goods sold, cost of goods manufactured
Timbuk 3 Company has the following information for March:
| Cost of direct materials used in production | 21000 |
| Direct labor | 54250 |
| Factory overhead | 35000 |
| Work in process inventory, March 1 | 87500 |
| Work in process inventory, March 31 | 92750 |
| Finished goods inventory, March 1 | 36750 |
| Finished goods inventory, March 31 | 42000 |
For March, determine the cost of goods manufactured.
Using the dada given, prepare a statement of cost of goods manufactured.
For March, determine the cost of goods sold.
Using the data given, prepare a statement of cost of goods sold.
