The following information pertains to Flaxman Manufacturing Company for March 2015. Assume actual overhead equaled...
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Accounting
The following information pertains to Flaxman Manufacturing Company for March 2015. Assume actual overhead equaled applied overhead. March 1
Inventory balances
Raw materials $ 124,100
Work in process 118,500
Finished goods 77,800
March 31
Inventory balances Raw materials $ 85,600
Work in process 146,000
Finished goods 81,300
During March Costs of raw materials purchased $ 118,100
Costs of direct labor 102,000
Costs of manufacturing overhead 61,800
Sales revenues 360,000
Prepare a schedule of cost of goods manufactured and sold, Calculate the amount of gross margin.
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