GrandSlam Incorporated incurred the following costs during March: Selling expenses Direct labor Interest expense Manufacturing overhead, actual Raw materials used Administrative expenses $ 161,900 289,000 40,800 58,000 490,000 122,000 During the month, 18,000 units of product were manufactured and 10,600 units of product were sold. On March 1, Grand Slam 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 $1,044,000 and the company's effective income tax rate was 35%. Complete this question by entering your answers in the tabs below. Req A and B Req C Req D 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 Show less