Ramort Company reports the following cost data for its single product. The company regularly sells 16,000 units of its product at a price of $52.00 per unit.

Direct materials$9.20per unitDirect labor$11.20per unitOverhead costs for the yearVariable overhead$2.20per unitFixed overhead per year$14,400.00Selling and adminstrative costs for the yearVariable$1.20per unitFixed$64,400Normal production level (in units)16,000units

Compute gross margin under absorption costing.