QS 19-5 Absorption costing and gross margin LO P2 Ramort Company reports the following cost data for its single product. The company regularly sells 20,500 units of its product at a price of $61.00 per unit Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead per year Selling and administrative costs for the year Variable Fixed Normal production level (in units) $ 10.10 per unit s 12.10 per unit $ 3.10 per unit $44,100.00 $ 2.10 per unit 65,300 20,500 units Compute gross margin under absorption costing. (Round unit cost amounts to 2 decimal places.) Production Compute gross margin under absorption costing. (Round unit cost amounts to 2 decimal places.) Production volume 20,500 units Cost of goods sold: Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead per unit Cost of goods sold per unit Number of units sold Total cost of goods sold RAMORT COMPANY Income Statement (partial) Sales volume 20,500 units Sales Cost of goods sold Gross margin