Please don't provide answer in image format thank you The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead.April 2Inventory balancesRaw materialsWork in processFinished goodsApril 30Inventory balancesRav materialsWork in processFinished goods$123, 200118,20077,700$85,800146,80080,800During AprilCosts of raw materials purchasedCosts of direct laborCosts of manufacturing overheadSales revenuesRequireda. Prepare a schedule of cost of goods manufactured and sold.b. Calculate the amount of gross margin on the income statement.$119,500101,40061,300356,000Answer is not complete.Complete this question by eltering your answers in the tabs below.Required A Required BCalculate the amount of gross margin on the income statement.Gross margin Complete this question by entering your answers in the tabs below.Required A Required BPrepare a schedule of cost of goods manufactured and sold.FLAXMAN MANUFACTURING COMPANYSchedule of Cost of Goods Manufactured and SoldFor AprilBeginning work in process inventoryBeginning finished goods inventoryRaw materials available for useDirect raw materials usedTotal manufacturing costsTotal work in process inventoryCost of goods manufacturedCost of goods available for saleCost of goods soldX0000

Cost of goods manufactured :— It is the total cost of completed finished goods transferred from work…

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 Rav materials Work in process Finished goods $123,200 118,200 77,700 $85,800 146,800 80,800 During April Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. $119,500 101,400 61,300 356,000

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 Rav materials Work in process Finished goods $123,200 118,200 77,700 $85,800 146,800 80,800 During April Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. $119,500 101,400 61,300 356,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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