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 1 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) points $ 10 per unit 12 per unit Skipped $ $40,000 3 per unit $ $65,200 20,e00 units 2 per unit oBcok Print Compute gross margin under absorption costing. References Production volume Cost of goods sold: 20,000 units Cost of goods sold per unit Number of units sold Total cost of goods sold RAMORT COMPANY Income Statement (partial) Sales volume 20,000 units