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POBLEMS-SET LO2, 3 w CMK Matable and Absorption Costing Frances Manufacturing makes a product with total unit manufac. Anine cost of $64, of which S36 is variable. No units were on hand at the beginning of 2015. During 2015 and 2016, the only product manufactured was sold for $96 per unit, and the cost structure did wow charge, Frances uses the first-in, first-out inventory method and has the following production and oy. ules for 2015 and 2016: Units Manufactured Units Sold 2015 100,000 70,000 2016 100,000 120,000 Required a Prepare gross profit computations for 2015 and 2016 using absorption costing. & Prepare gross profit computations for 2015 and 2016 using variable costing. 6 Explain how your answers illustrate the impact of differences between production and sales vol- umes on the gross profits reported each year under absorption and variable costing