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

March 1
Inventory balances
Raw materials	$	124,100
Work in process		119,300
Finished goods		76,100
March 31
Inventory balances
Raw materials	$	86,100
Work in process		145,000
Finished goods		81,700
During March
Costs of raw materials purchased	$	119,700
Costs of direct labor		100,400
Costs of manufacturing overhead		62,500
Sales revenues		358,000

Required

a.

Prepare a schedule of cost of goods manufactured and sold.

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