Exercise 11-13A (Algo) Cost of goods manufactured and sold LO 11-3 The following information pertains to Adams Manufacturing Company for March Year 3. Assume actual overhead equaled applied overhead. March 1 Inventory balances Raw materials Work in process Finished goods March 31 Inventory balances Raw materials Work in process Finished goods During March Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues Required $123,300 118,600 76,000 $ 86,600 145,900 81,700 $118,100 100,100 62,600 359,000 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