Answered: Hello, Grandslam Inc incurred the…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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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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