Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing Sales price $ 56.00 per unit Direct materials $ 9.00 per unit Direct labor $ 6.50 per unit Variable overhead $. 11.00 per unit Fixed overhead $ 720,000 per year 1. Compute gross profit assuming (8) 60,000 units are produced and 60,000 units are sold and (b) 80,000 units are produced and 60,000 units are sold 2. By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute gross profit assuming (a) 60,000 units are produced and 60,000 units are sold and (0) 80,000 units are produced and 60,000 units are sold. (a) 60,000 Units (b) 80,000 Units Produced and 60,000 Produced and 60,000 Units Sold Units Sold Gross profit cuid Required 2 > Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing Sales price $ 56.00 per unit Direct materials $9.00 per unit Direct labor $.6.50 per unit Variable overhead $ 11.00 per unit Fixed overhead $ 720,000 per year 1. Compute gross profit assuming (0) 60,000 units are produced and 60,000 units are sold and (b) 80,000 units are produced and 60,000 units are sold 2. By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Required 2 By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells? Gross profit by