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The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in
The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances Raw materials Work in process $124,400 118,600 77,800 $ 86,900 146,700 Finished goods 80,300 During April Costs of raw materials purchased $118,300 Costs of direct labor 100,500 Costs of manufacturing overhead Sales revenues 62,900 356,000 Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Complete uiis question by entermy your answers in life laps below. Required A Required B 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 0 Direct raw materials used Total manufacturing costs 0 Total work in process inventory 0 Cost of goods manufactured Cost of goods available for sale 0 Cost of goods sold DISNEY yus April 30 Inventory balances Raw materials Work in process Finished goods During April 11,000 $ 86,900 146,700 80,300 Costs of raw materials purchased Costs of direct labor $118,300 100,500 Costs of manufacturing overhead Sales revenues 62,900 356,000 Required 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 Calculate the amount of gross margin on the income statement. Gross margin < Required A Required B >
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