The following information pertains to Flaxman Manufacturing Company for March 2015. Assume actual overhead equaled applied overhead. March 1 Inventory balances Raw materials $ 100,000 Work in process 120,000 Finished goods 78,000 March 31 Inventory balances Raw materials $ 60,000 Work in process 145,000 Finished goods 80,000 During March Costs of raw materials purchased $ 120,000 Costs of direct labor 100,000 Costs of manufacturing overhead 63,000 Sales revenues 380,000 Required a. Prepare a schedule of cost of goods manufactured and sold Flaxman Manufacturing COMPANY Schedule of Cost of Goods Manufactured and Sold For march 3018Raw materials awailable for useDirect raw materials used Total manufacturing costs Total work in process inventorycost of goods manufacturcost of goods available for sale b. Calculate the amount of gross margin on the Income statement. Grossmargin