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...

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

For March, determine (a) the cost of goods manufactured and (b) the cost of goods sold.