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 $123,500 119,200 76,700 $ 85,500 146,200 Finished goods During April 80,400 Costs of raw materials purchased Costs of direct labor $118,200 100,600 Costs of manufacturing overhead Sales revenues 61,800 353,000 Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement.