GrandSlam Incorporated incurred the following costs during March: Selling expenses Direct labor Interest expense Manufacturing overhead, actual Raw materials used Administrative expenses $ 160,500 298,000 40,500 66,360 461,000 120,700 During the month, 18,100 units of product were manufactured and 11,100 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 Grand Slam for the month of March. Assume that sales for the month was $1,037,000 and the company's effective income tax rate was 40% Complete this question by entering your answers in the tabs below. Req A and B Req C Req D Show less & 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. a. Cost of goods manufactured a Average cost per unit b. Cost of goods sold RegA and D ReqC > Complete this question by entering your answers in the tabs below. Req A and B Red C Req D 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. Difference Amount will be reported in Req A and B Req C Req D Prepare a traditional (absorption) income statement for GrandSlam for the month of March. Assume that sales for the month was $1,037,000 and the company's effective income tax rate was 40%. Note: Round "Average cost per unit" to 2 decimal places. GRANDSLAM INCORPORATED Absorption Income Statement For the month of March