Required information [The following information applies to the questions displayed below.] Barnes Company reports the following for its product for its first year of operations. The company sells its product for $120 per unit. Compute gross profit using absorption costing assuming the company (a) produces and sells 4,000 units and (b) produces 5,000 units and sells 4,000 units. The company sells its product for $120 per unit. Compute contribution margin using variable costing assuming the company (a) produces and sells 4,000 units and (b) produces 5,000 units and sells 4,000 units