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The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead $124.000 118.100 76,960 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 $ 85,800 146,600 80.800 $118,800 101, 100 61.600 356,00 Required a. Prepare a schedule of cost of goods manufactured and sold. FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For March 2018 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 b. Calculate the amount of gross margin on the income statement Gross margin The following information pertains to Haxman Manufacturing overhead. $124,000 118,100 76,900 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 $ 85,800 146,600 80,800 $118,800 101,100 61,600 356,000 Required a. Prepare a schedule of cost of goods manufactured and sol