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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 $ 123,900 Work

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

April 1
Inventory balances
Raw materials $ 123,900
Work in process 119,400
Finished goods 77,000
April 30
Inventory balances
Raw materials $ 86,000
Work in process 146,500
Finished goods 81,700
During April
Costs of raw materials purchased $ 119,800
Costs of direct labor 101,300
Costs of manufacturing overhead 62,600
Sales revenues 354,000

Required

Prepare a schedule of cost of goods manufactured and sold.

Calculate the amount of gross margin on the income statement.

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Prepare a schedule of cost of goods manufactured and sold. Calculate the amount of gross margin on the income statement

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