April $1$

Inventory balances

Raw materials $$124,400$

Work in process $119,800$

Finished goods $76,900$

April $30$

Inventory balances

Raw materials $$85,000$

Work in process $146,500$

Finished goods $81,600$

During April

Costs of raw materials purchased $$119,100$

Costs of direct labor $100,500$

Costs of manufacturing overhead $62,400$

Sales revenues $359,000$

Required

Prepare a schedule of cost of goods manufactured and sold.

Calculate the amount of gross margin on the income statement.