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%.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 3E: Comacho Chemical Co. recorded costs for the month of 18,900 for materials, 44,100 for labor, and...

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Question

hello I need help please

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%.
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. (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 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%.
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. (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 manufactured
Average cost per unit
b.Cost of goods sold
KReq A and B
Req C >

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Hello, Grandslam Inc incurred the following costs during March. Selling Expenses $156,100 Direct Labor 308,000 Interest Expense 41,800 Manufacturing Overhead, actual 45,930 Raw materials used 466,000 Admin Expenses 116,400 During the month, 18,100 units were manufactured and 10,600 units of products were sold. On March 1, Grandslam Inc. carried no inventories. On March 31, there were no inventories for raw materials or work in progress. Question 7d: Prepare a traditional (absorption) income statement for Grandslam Inc. for the month of June. Assume that sales for the month were $1,038,000 and the company's effective income tax rate was 30%. (Round "Average cost per unit" to 2 decimal places. Sales $1,038,000 Cost of Goods sold ? Gross Profit ? ? Operating Income ? ? Income Before taxes ? Income Tax Expense ? Net Income ? Thanks.
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