GrandSlam Incorporated incurred the following costs during March:

Selling expenses $ 157,800

Direct labor 293,000

Interest expense 40,000

Manufacturing overhead, actual 74,420

Raw materials used 500,000

Administrative expenses 119,900

During the month, 18,300 units of product were manufactured and 11,500 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:

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 GrandSlam for the month of March. Assume that sales for the month was $1,043,000 and the company's effective income tax rate was 40%.

GrandSlam Incorporated incurred the following costs during March: During the month, 18,300 units of product were manufactured and 11,500 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: 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 GrandSlam for the month of March Assume that sales for the month was $1,043,000 and the company's effective income tax rate was 40%. Complete this question by entering your answers in the tabs below. a. Calculate the cost of goods manufactured during March and the average cost per unit of product manufactured. 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. Complete this question by entering your answers in the tabs below. Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements? Note: Round "Average cost per unit" to 2 decimal places. Prepare a traditional (absorption) income statement for GrandSlam for the month of March. Assume that sales for the month was $1,043,000 and the company's effective income tax rate was 40%. Note: Round "Average cost per unit" to 2 decimal places