The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead.

The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. $123,400 118,400 76,500 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 $ 86,800 145,800 81,600 $118,100 101,300 62,400 351,000 Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Gross margin