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

April 1
Inventory balances
Raw materials	$	124,400
Work in process		118,000
Finished goods		76,800
April 30
Inventory balances
Raw materials	$	86,600
Work in process		146,800
Finished goods		80,600
During April
Costs of raw materials purchased	$	118,200
Costs of direct labor		101,100
Costs of manufacturing overhead		61,300
Sales revenues		360,000

Required

1. Prepare a schedule of cost of goods manufactured and sold.

2. Calculate the amount of gross margin on the income statement.