GrandSlam, Inc., incurred the following costs during March:

Selling expenses	$	159,300
Direct labor		308,000
Interest expense		42,100
Manufacturing overhead, actual		133,650
Raw materials used		463,000
Administrative expenses		123,700

During the month, 18,500 units of product were manufactured and 10,400 units of product were sold. On March 1, GrandSlam, Inc., 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. (Round "Average cost per unit" to 2 decimal places.)

b. Calculate the cost of goods sold during March. (Round "Average cost per unit" to 2 decimal places.)

c-1. Calculate the difference between cost of goods manufactured and cost of goods sold.

d. Prepare a traditional (absorption) income statement for GrandSlam, Inc., for the month of June. Assume that sales for the month were $1,041,000 and the company's effective income tax rate was 30%. (Round "Average cost per unit" to 2 decimal places.)

GRANDSLAM, INC.
Absorption Income Statement
For the month of March
	$0
	$0
	$0
	$0