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

April $1$

Inventory balances

Raw materials $ $100,000$

Work in process $120,000$

Finished goods $78,000$

April $30$

Inventory balances

Raw materials $ $60,000$

Work in process $145,000$

Finished goods $80,000$

During April

Costs of raw materials purchased $ $120,000$

Costs of direct labor $100,000$

Costs of manufacturing overhead $63,000$

Sales revenues $380,000$

Required

Prepare a schedule of cost of goods manufactured and sold.

Calculate the amount of gross margin on the income statement.