The following information pertains to Flaxman Manufacturing Company for March 2015. Assume actual overhead equaled applied overhead. March 1

Inventory balances

Raw materials $ 124,100

Work in process 118,500

Finished goods 77,800

March 31

Inventory balances Raw materials $ 85,600

Work in process 146,000

Finished goods 81,300

During March Costs of raw materials purchased $ 118,100

Costs of direct labor 102,000

Costs of manufacturing overhead 61,800

Sales revenues 360,000

Prepare a schedule of cost of goods manufactured and sold, Calculate the amount of gross margin.