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GrandSlam Incorporated incurred the following costs during March: Selling expenses $ 1 5 5 , 6 0 0 Direct labor 2 9 2 , 0

GrandSlam Incorporated incurred the following costs during March:
Selling expenses $ 155,600
Direct labor 292,000
Interest expense 41,900
Manufacturing overhead, actual 81,620
Raw materials used 495,000
Administrative expenses 121,800
During the month, 18,600 units of product were manufactured and 11,700 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 $1,038,000 and the company's effective income tax rate was 35%.

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