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The following information pertains to Flaxman Manufacturing Company for March 2015

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The following information pertains to Flaxman Manufacturing Company for March 2015. Assume actual overhead equaled applied overhead. March 1 Inventory balances Raw materials$100,000 Work in process120,000 Finished goods78,000 March 31 Inventory balances Raw materials$60,000 Work in process145,000 Finished goods80,000 During March Costs of raw materials purchased$120,000 Costs of direct labor100,000 Costs of manufacturing overhead63,000 Sales revenues380,000FLAXMAN MANUFACTURING COMPANYSchedule of Cost of Goods Manufactured and SoldFor March 2015Raw materials available for useDirect raw materials usedTotal manufacturing costsTotal work in process inventoryCost of goods manufacturedCost of goods available for saleCost of goods solda.Prepare a schedule of cost of goods manufactured and sold.FLAXMAN MANUFACTURING COMPANYSchedule of Cost of Goods Manufactured and SoldFor March 2015Raw materials available for useDirect raw materials usedTotal manufacturing costsTotal work in process inventoryCost of goods manufacturedCost of goods available for saleCost of goods soldb.Calculate the amount of gross margin on the income statement.Gross margin=