The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead $124,600 119,5ee 77, see 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 $ 86,6ee 145.600 81,7ee $118,8ee 101.400 62.400 360, eee FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For March 2018 Raw materials available for use Direct raw materials used Total manufacturing costs Total work in process inventory Cost of goods manufactured Cost of goods available for sale Cost of goods sold b. Calculate the amount of gross margin on the income statement. Gross margin