The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead.

April 1
Inventory balances
Raw materials ............................. $100,000
Work in process ............................ 120,000
Finished goods ................................ 78,000

April 30

Inventory balances

Raw materials ............................... $ 60,000
Work in process ............................ 145,000
Finished goods ................................ 80,000

During April

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.

b. Calculate the amount of gross margin on the income statement.