Problem 19-2A (Algo) Variable costing income statement LO P2 Trez Company began operations this year. During this year, the compary produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows. Additionar information a. Selling and administrative expenses consist of $400,000 in annual fixed expenses and $1.75 per unit in variable selling and administrative exponses b. The company's product cost of $25 per unit consists of the following. Required: Prepare an income statement for the compony under variable costing. Required: Prepare an income statement for the company under varlable costing. Exercise 19-14 (Algo) Absorption costing and overproduction LO C1 Jax incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. 1. Compute gross profit assuming (a) 71,000 units are produced and 71,000 units are sold and (6)102,000 units are produced and 71,000 units are sold 2. By how much would the company's gross profit increase or decrease from producing 31,000 more units than it sells? Complete this question by entering your answers in the tabs below. Compute gross profit assuming (o) 71,000 units are produced and 71,000 units are sold and (b) 102,000 units are produced and 71,000 units are sold. Jax Incorpofated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. 1. Compute gross profit assuming (a) 71,000 units are produced and 71,000 units are sold and (b)102,000 units are produced and 71,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 31,000 more units than it sells? Complete this question by entering your answers in the tabs below. By how much would the company's gross profit increase or decrease from producing 31,000 more units than it sells