The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied...
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Accounting
The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials $ 124,400 Work in process 118,700 Finished goods 77,600 April 30 Inventory balances Raw materials $ 86,600 Work in process 145,700 Finished goods 80,300 During April Costs of raw materials purchased $ 118,800 Costs of direct labor 101,300 Costs of manufacturing overhead 61,800 Sales revenues 355,000 Required Prepare a schedule of cost of goods manufactured and sold. Calculate the amount of gross margin on the income
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