The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead.

April 1
Inventory balances
Raw materials	$	123,500
Work in process		118,400
Finished goods		76,800
April 30
Inventory balances
Raw materials	$	85,400
Work in process		146,200
Finished goods		80,600
During April
Costs of raw materials purchased	$	118,200
Costs of direct labor		101,300
Costs of manufacturing overhead		63,000
Sales revenues		354,000

Required

Prepare a schedule of cost of goods manufactured and sold.

Calculate the amount of gross margin on the income statement.