Maryville Inc. incurred the following costs during August:

Raw materials used	$	30,900
Direct labor		71,300
Manufacturing overhead, actual		42,800
Selling expenses		26,390
Administrative expenses		17,110
Interest expense		9,400

During the month, 5,800 units of product were manufactured and 3,700 units of product were sold. On August 1, Maryville carried no inventories. On August 31, there were no inventories other than finished goods. Required:

1. Calculate the cost of goods manufactured during August and the average cost per unit of product manufactured.
2. Calculate the cost of goods sold during August.
3. Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements?
4. Prepare a traditional (absorption) income statement for Maryville for the month of August. Assume that sales for the month were $220,400 and the company's effective income tax rate was 40%.