Grand Slam Inc. incurred the following costs during March: Selling expenses Direct labor Interest expense Manufacturing overhead, actual Raw materials used Administrative expenses $161,000 302,000 42,000 72,600 469,000 120,200 During the month, 18,500 units of product were manufactured and 11,600 units of product were sold. On March 1, Grand Slam carried no inventories. On March 31, there were no inventories for raw materials or work in process. Required: a. Calculate the cost of goods manufactured during March and the average cost per unit of product manufactured. b. Calculate the cost of goods sold during March. c. Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements? d. Prepare a traditional (absorption) income statement for Grand Slam for the month of March. Assume that sales for the month were $1,046,000 and the company's effective income tax rate was 35%. Complete this question by entering your answers in the tabs below