Prepare an income statemint for the vear using variable costing: Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. 1. Compute gross profit assuming (a) 68,000 units are produced and 68,000 units are sold and (b)96,000 units are produced and 68,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 28,000 mote units than it sells? Completis this question by entering your anwers in the tatn below. By bow much would the company's gross piofit increase or decrase fom produciag 28,000 moire units itsan it sells? Rey Company's only product sells for $226 per unit. Data for its first year of operations follow. 1. Prepare an income statement for the year using absorption costing 2. Prepare an income statement for the year using yariable costing. Compleie this question by entering your anwers in the tabs below. Prepart an income statement for the year using absorption costing: Complete this question by entering your answers in the tabs below: Compute gross profit assuming (a) 68,000 units are produced and 68,000 units are sold and (b)96,000 units are produced and 68,000 units are sold Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. 1. Compute gross profit assuming (a) 68,000 units are produced and 68,000 units are sold and (b) 96,000 units are produced and 68,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 28,000 more units than it sells? Complete this question by entering your anwers in the tabs below