Exercise 10-14A (Static) 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 $100,000 120,000 78,000 $ 60,000 145,000 Finished goods During April 80,000 Costs of raw materials purchased Costs of direct labor $120,000 100,000 Costs of manufacturing overhead. Sales revenues 63,000 380,000 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 ces Raw materials available for use Direct raw materials used Total manufacturing costs Total work in process inventory Cost of goods manufactured Cost of goods available for sale Cost of goods sold 0 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 Calculate the amount of gross margin on the income statement. Gross margin