Required information

Use the following information for the Quick Study below. $($Algo$)$

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Ramort Company reports the following for its single product. Ramort produced and sold $22,400$ units this year.

Direct materials

Direct labor $$22$ per unit

Variable overhead $$24$ per unit

Fixed overhead $$15$ per unit

Variable selling and administrative expenses $$44,800$ per year

Fixed selling and administrative expenses

Sales price

$$2$ per unit

$$67,600$ per year

$$96$ per unit

QS $19-9($Algo$)$ Computing gross profit under absorption costing LO P$2$

Compute gross profit under absorption costing.

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