GrandSlam Incorporated incurred the following costs during March During the month, 18,000 units of product were manufactured and 10,300 units of product were sold On March 1, GrandSlam carried no inventories On March 31, there were no inventories for raw materials or work in process Required Calculate the cost of goods manufactured during March and the average cost per unit of product manufactured Calculate the cost of goods sold during March Calculate the difference between cost of goods manufactured and cost of goods sold How will this amount be reported in the financial statements Prepare a traditional (absorption) income statement for GrandSlam for the month of March Assume that sales for the month was $1,034,000 and the company's effective income tax rate was 35 SellingexpensesDirectlaborInterestexpenseManufacturingoverhead,actualRawmaterialsusedAdministrativeexpenses$159,800281,00042,30044,000494,000123,000 a Calculate the cost of goods manufactured during March ar Note Round Average cost per unit to 2 decimal places b Calculate the cost of goods sold during March Note Round Average cost per unit to 2 decimal places Calculate the difference between cost of goods manufactured a financial statements Note Round Average cost per unit to 2 decimal places Prepare a traditional (absorption) income statement for GrandS was $1,034,000 and the company's effective income tax rate Note Round Averade cost ner unit to 2 decimal blaces

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GrandSlam Incorporated incurred the following costs during March: During the month, 18,000 units of product were manufactured and 10,300 units of product were sold. On

GrandSlam Incorporated incurred the following costs during March:

image text in transcribed During the month, 18,000 units of product were manufactured and 10,300 units of product were sold. On March 1, GrandSlam carried no inventories. On March 31, there were no inventories for raw materials or work in process.

Required:

Calculate the cost of goods manufactured during March and the average cost per unit of product manufactured.
Calculate the cost of goods sold during March.
Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements?
Prepare a traditional (absorption) income statement for GrandSlam for the month of March. Assume that sales for the month was $1,034,000 and the company's effective income tax rate was 35%.

SellingexpensesDirectlaborInterestexpenseManufacturingoverhead,actualRawmaterialsusedAdministrativeexpenses$159,800281,00042,30044,000494,000123,000 a. Calculate the cost of goods manufactured during March ar Note: Round "Average cost per unit" to 2 decimal places. b. Calculate the cost of goods sold during March. Note: Round "Average cost per unit" to 2 decimal places. Calculate the difference between cost of goods manufactured a financial statements? Note: Round "Average cost per unit" to 2 decimal places. Prepare a traditional (absorption) income statement for GrandS was $1,034,000 and the company's effective income tax rate Note: Round "Averade cost ner unit" to 2 decimal blaces