hello I need help please GrandSlam Inc. incurred the following costs during March:Selling expensesDirect laborInterest expenseManufacturing overhead, actualRaw materials usedAdministrative expenses$161,600284,00042,300155,850463,000116,300During the month, 19,500 units of product were manufactured, and 10,100 units of product were sold. On March 1, GrandSlam carried noinventories. 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 thefinancial statements?d. Prepare a traditional (absorption) income statement for GrandSlam for the month of March. Assume that sales for the month were$1,035,000 and the company's effective income tax rate was 40%.Complete this question by entering your answers in the tabs below.Req A and BReq CReq Da. Calculate the cost of goods manufactured during March and the average cost per unit of product manufactured. (Round 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 thefinancial statements?d. Prepare a traditional (absorption) income statement for GrandSlam for the month of March. Assume that sales for the month were$1,035,000 and the company's effective income tax rate was 40%.Complete this question by entering your answers in the tabs below.Req A and BReq CReq Da. Calculate the cost of goods manufactured during March and the average cost per unit of product manufactured. (Round"Average cost per unit" to 2 decimal places.)b. Calculate the cost of goods sold during March. (Round "Average cost per unit" to 2 decimal places.)a.Cost of goods manufacturedAverage cost per unitb.Cost of goods soldKReq A and BReq C >

Raw materials: It is the primary input in manufacturing a product. Conversion costs like direct…

GrandSlam Inc. incurred the following costs during March: Selling expenses Direct labor Interest expense Manufacturing overhead, actual Raw materials used Administrative expenses $161,600 284,000 42,300 155,850 463,000 116,300 During the month, 19,500 units of product were manufactured, and 10,100 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 GrandSlam for the month of March. Assume that sales for the month were $1,035,000 and the company's effective income tax rate was 40%.

GrandSlam Inc. incurred the following costs during March: Selling expenses Direct labor Interest expense Manufacturing overhead, actual Raw materials used Administrative expenses $161,600 284,000 42,300 155,850 463,000 116,300 During the month, 19,500 units of product were manufactured, and 10,100 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 GrandSlam for the month of March. Assume that sales for the month were $1,035,000 and the company's effective income tax rate was 40%.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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