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

March 1
Inventory balances
Raw materials	$	124,600
Work in process		119,800
Finished goods		77,400
March 31
Inventory balances
Raw materials	$	86,700
Work in process		145,500
Finished goods		81,800
During March
Costs of raw materials purchased	$	118,300
Costs of direct labor		100,700
Costs of manufacturing overhead		61,800
Sales revenues		357,000

Required a. Prepare a schedule of cost of goods manufactured and sold le of cost of goods manufactured and sold FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For March 2015 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