2 QUESTION Incomplete answer Marked out of 33.00 P Rlag question Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (75,000 units) $6,000,000 Production costs (80,000 units) Direct material 1,760,000 Direct labor 1,440,000 Manufacturing overhead: Variable 1,088,000 Fixed 640,000 Operating expenses: Variable Fixed Depreciation on equipment Real estate taxes Personal property taxes (inventory & equipment) Personnel department expenses 336,000 480,000 120,000 36,000 57,600 60,000