April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances Raw materials Work in process $124,800 118,100 77,000 $ 85,800 145,300 Finished goods 80,800 During April Costs of raw materials purchased $118,000 Costs of direct labor 101,200 Costs of manufacturing overhead 61,700 Sales revenues 354,000 Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the Income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule of cost of goods manufactured and sold. FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For April Beginning raw materials inventory Purchases Raw materials available for use $ 124,800 118,000 242,800 Ending raw materials inventory 85,800 Direct raw materials used 100,600 Direct labor 101,200 Manufacturing overhead 61,700 Total manufacturing costs 263,500 Beginning work in process inventory 118,100 Total work in process inventory 381,600 145,300 Ending work in process inventory Cost of goods manufactured Beginning finished goods inventory Cost of goods available for sale Ending finished goods inventory Cost of goods sold 77,000 77,000 (80,800) $ 299,900