omework ( Seven Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing Sales price Direct materials Direct labor Variable overhead Fland overhead 5:57.70 per unit 5 10.70 per unit 5 8.20 per unit $ 12.70 per unit $ 1,316,700 per year 1. Compute gross profit assuming ( 77,000 units are produced and 77,000 units are sold and (2) 114,000 units are produced and 77,000 units are sold 2. By how much would the company's gross profit increase or decrease from producing 37.000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Regard 2 Compute gross profit assuming (a) 77,000 units are produced and 77,000 units are sold and (b) 114,000 units are produced and 77,000 units are sold. (b) 114,000 Units Produced and 77,000 Units Sold (a) 77,000 Units Produced and 77,000 Units Sold Sales $ 4,442,900 $ Cost of goods sold Gross proft 4,442,900 (Required Required 2 > Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. Sales price Direct materials: Direct labor Variable overhead i Fixed overhead $ 57,70 per unit $ 10.70 per unit $ 8.20 per unit $ 12.70 per unit $ 1,316,700 per year 1. Compute gross profit assuming (e) 77,000 units are produced and 77,000 units are sold and (b) 114,000 units are produced and 77,000 units are sold 2. By how much would the company's gross profit increase or decrease from producing 37,000 more units than it sells? Complete this question by entering your answers in the tabs below.. Required 1equired 2 By how much would the company's gross profit increase or decrease from producing 37,000 more units than it sells? Gross profe increases