The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied...
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The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. \begin{tabular}{lr} April 1 & \\ Inventory balances & \\ Raw materials & $124,900 \\ Work in process & 119,200 \\ Finished goods & 76,500 \\ April 30 & \\ Inventory balances & $85,700 \\ Raw materials & 145,400 \\ Work in process & 80,300 \\ Finished goods & \\ During April & $118,500 \\ Costs of raw materials purchased & 100,700 \\ Costs of direct labor & 62,100 \\ Costs of manufacturing overhead & 358,000 \\ Sales revenues & \end{tabular} a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Answer is not complete. Complete this question by entering your answers in the tabs below. Calculate the amount of gross margin on the income statement
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The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. \begin{tabular}{lr} April 1 & \\ Inventory balances & \\ Raw materials & $124,900 \\ Work in process & 119,200 \\ Finished goods & 76,500 \\ April 30 & \\ Inventory balances & $85,700 \\ Raw materials & 145,400 \\ Work in process & 80,300 \\ Finished goods & \\ During April & $118,500 \\ Costs of raw materials purchased & 100,700 \\ Costs of direct labor & 62,100 \\ Costs of manufacturing overhead & 358,000 \\ Sales revenues & \end{tabular} a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Answer is not complete. Complete this question by entering your answers in the tabs below. Calculate the amount of gross margin on the income statement 