The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. $123,800 118,800 77,700 March 1 Inventory balances Raw materials Work in process Finished goods March 31 Inventory balances Raw materials Work in process Finished goods During March Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues $ 85,600 145,000 81,800 $118,300 101,100 62,700 358,000 Required a. Prepare a schedule of cost of goods manufactured and sold. Beginning raw materials inventory Purchases Raw materials available for use Ending raw materials inventory Direct raw materials used Direct labor $ 123,800 118,300 242,100 85,600 156,500 101,100 62,700 320,300 118,800 439,100 145,000 294,100 Manufacturing overhead Total manufacturing costs Beginning work in process inventory Total work in process inventory Ending work in process inventory Cost of goods manufactured Beginning finished goods inventory Cost of goods available for sale Ending finished goods inventory Cost of goods sold 77,700 371,800 81,800 $ 290,000 b. Calculate the amount of gross margin on the income statement. X Answer is complete but not entirely correct. Gross margin $ 19 x