a. Prepare gross profit computations for 2015 and 2016 using absorption costing. Do not use negative signs with your answers. Absorption Costing 2015 2016 Sales 0 Cost of goods sold: Beginning inventory 0 Production 0 Goods available 0 Less: Ending inventory Cost of goods sold 0 0 Gross profit 0 b. Prepare gross profit computations for 2015 and 2016 using variable costing. Do not use negative signs with your answers. Variable Costing 2015 2016 0 0 Sales Variable cost of goods sold: Beginning inventory 0 0 Production Goods available 0 0 0 Less: Ending inventory Variable cost of goods sold 0 Less: Fixed manufacturing costs 0 0 Gross profit c. Explain how your answers illustrate the impact of differences between production and sales volumes on the gross profits reported each year under absorption and variable costing. Select the most appropriate statement. Olf production volume exceeds sales volume, the absorption costing gross profit will be higher than the variable costing gross profit. OIf sales volume exceeds production volume, the absorption costing gross profit will be higher than the variable costing gross profit. Olf production volume exceeds sales volume, the variable costing gross profit will be higher than the absorption costing gross profit. OIf sales volume exceeds production volume, the variable costing gross profit will be lower than the absorption costing gross profit