The following information pertains to Flaxman Manufacturing Company for March 2015. Assume actual overhead equaled applied overhead.

March 1
Inventory balances
Raw materials	$	124,600
Work in process		119,100
Finished goods		76,800
March 31
Inventory balances
Raw materials	$	85,500
Work in process		145,600
Finished goods		81,900
During March
Costs of raw materials purchased	$	119,200
Costs of direct labor		100,100
Costs of manufacturing overhead		61,400
Sales revenues		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.