Exercise 10-14A (Algo) Cost of goods manufactured and sold LO 10-5 The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances Raw materials Work in process $124,700 118,100 77,700 $ 86,500 145,300 Finished goods During April 81,300 Costs of raw materials purchased Costs of direct labor $118,700 102,000 Costs of manufacturing overhead Sales revenues 61,500 353,000 Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement.