Ramort Company reports the following for its single product. Ramort produced and sold 20,000 units this year. $10 per unit $ 12 per unit $3 per unit Direct materials Direct labor Variable overhead. Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Sales price Compute gross profit under absorption costing. RAMORT COMPANY Gross Profit (Absorption Costing) Sales Cost of goods sold Gross profit $ 1,200,000 $ 40,000 per year $ 2 per unit $ 65,200 per year $ 60 per unit

Required information The following information applies to the questions displayed belowj Ramort Company reports the following for its single product. Ramort produced and sold 20,000 units this year. Compute gross profit under absorption costing