Ramort Company reports the following cost data for its single product. The company regularly sells 20,000 units of its product at a price of $60 per unit. Direct materials $ 10 per unit Direct labor $ 12 per unit Overhead costs for the year Variable overhead $ 3 per unit Fixed overhead per year $ 40,000 Selling and adminstrative costs for the year Variable $ 2 per unit Fixed $ 65,200 Normal production level (in units) 20,000 units Compute gross margin under absorption costing.