The following information pertains to Flaxman Manufacturing Company for March 2015. Assume actual overhead equaled applied overhead March 1 Inventory balances $100,000 Raw materials Work in process 120,000 Finished goods 78,000 March 31 Inventory balances 60,000 Raw materials Work in process 145,000 80,000 Finished goods During March Costs of raw materials purchased $120,000 Costs of direct labor 100,000 Costs of manufacturing overhead 63,000 Sales revenues 380,000