Exercise 10-14A (Static) Cost of goods manufactured and sold LO 10-5 The following information pertains to...

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Exercise 10-14A (Static) Cost of goods manufactured and sold LO 10-5 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 Inventory balances Raw materials Work in process Finished goods During April $100,000 120,000 78,000 $ 60,000 145,000 80,000 $120,000 100,000 Costs of manufacturing overhead Sales revenues 63,000 380,000 Costs of raw materials purchased Costs of direct labor 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 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 Beginning raw materials inventory Purchases Raw materials available for use Ending raw materials inventory Direct raw materials used $ 100,000 100,000 Total manufacturing costs Total work in process inventory Cost of goods manufactured Cost of goods available for sale Cost of goods sold 0 0 Required A Required B > Required A Required B Calculate the amount of gross margin on the income statement Gross margin Exercise 10-14A (Static) Cost of goods manufactured and sold LO 10-5 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 Inventory balances Raw materials Work in process Finished goods During April $100,000 120,000 78,000 $ 60,000 145,000 80,000 $120,000 100,000 Costs of manufacturing overhead Sales revenues 63,000 380,000 Costs of raw materials purchased Costs of direct labor 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 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 Beginning raw materials inventory Purchases Raw materials available for use Ending raw materials inventory Direct raw materials used $ 100,000 100,000 Total manufacturing costs Total work in process inventory Cost of goods manufactured Cost of goods available for sale Cost of goods sold 0 0 Required A Required B > Required A Required B Calculate the amount of gross margin on the income statement Gross margin