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 S 57.79 per unit Direct materials $ 19.79 per unit Direct labor :5 8.29 per unit Variable overhead $ 12.79 per unit Fixed overhead 5 1,316,799 per year 1. Compute gross profit assuming (a) 77,000 units are produced and 77,000 units are sold and (b) 114,000 units are produced and 77,000 units are sold. 2. By how much would the company's gross prot increase or decrease from producing 37,000 more units than it sells? Compute gross profit assuming (a) 77,000 units are produced and 77,000 units are sold and (b) 114,000 units are produced and 77,000 units are sold. (a) 77,000 Units (b) 114,000 Units Produced and Produced and 77,000 Units Sold 77,000 Units Sold Sales $ 4,442,900 V $ 4,442,900 Cost of goods sold 3,749,900 V Gross profitBy how much would the company's gross prot increase or decrease from producing 37,000 more units than it sells? Gross prot by