(Solved): The following information pertains to Flaxman Manufacturing Company for April. Assume actual over ...

The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials. Work in process Finished goods April 30 $123,900 118, 200 77,998 Inventory balances Raw materials Work in process $ 86,190 146,800 80,700 Finished goods During April Costs of raw materials purchased $120,000 Costs of direct labor 100, 500 Costs of manufacturing overhead 62,300 354,000 Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule of cost of goods manufactured and sold. FLAXMAN MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For April $ 123,900 Beginning raw materials inventory Purchases Raw materials available for use Ending raw materials inventory Direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Total work in process inventory Ending work in process inventory Cost of goods manufactured Beginning finished goods inventory 368,100 Cost of goods available for sale Ending finished goods inventory Cost of goods sold 80,700 S 287,400 X Required A Required B > *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. 120,000? 243.900 86.100? 156,000 X 100,500?? 62,300? 318,800 118,200 437,000 146,800? 290,200 x 77,900? The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances $123,900 118, 200 77,900 Raw materials Work in process Finished goods April 30 Inventory balances Raw materials Work in process $ 86,190 146,800 80,700 Finished goods During April Costs of raw materials purchased $120,000 Costs of direct labor 100, 500 Costs of manufacturing overhead 62,300 354,000 Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the amount of gross margin on the income statement. Gross margin S 19 x < Required A Required B >