The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. $123,300 118,500 78,000 April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances Raw materials Work in process Finished goods During April Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues $ 86,800 146,800 80,600 $ 118,700 101,900 61,400 354,000 Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Prepare a schedule of cost of goods manufactured and sold. FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For April 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 Calculate the amount of gross margin on the income statement. Gross margin