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table [ [ Direct labor, 2 9 5 , 0 0 0 ] , [ Interest expense, 4 1 , 6 0 0 ]
tableDirect labor,Interest expense,Manufacturing overhead, actual,Raw materials used,Administrative expenses, During the month, units of product were manufactured and units of product were sold. On March GrandSlam carried no inventories. On March 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 $ and the company's effective income tax rate was Complete this question by entering your answers in the tabs below. Req A and Req C Req Prepare a traditional absorption income statement for GrandSlam for the month of March. Assume that sales for the month was $ and the company's effective income tax rate was Note: Round "Average cost per unit" to decimal places. tableGRANDSLAM INCORPORATEDAbsorption Income StatementFor the month of March of Next
tableDirect labor,Interest expense,Manufacturing overhead, actual,Raw materials used,Administrative expenses,
During the month, units of product were manufactured and units of product were sold. On March GrandSlam carried no inventories. On March 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 $ and the company's effective income tax rate was
Complete this question by entering your answers in the tabs below.
Req A and
Req C
Req
Prepare a traditional absorption income statement for GrandSlam for the month of March. Assume that sales for the month was $ and the company's effective income tax rate was
Note: Round "Average cost per unit" to decimal places.
tableGRANDSLAM INCORPORATEDAbsorption Income StatementFor the month of March
of
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