Please do not give solution in image format thanku 12Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it useabsorption costing.Sales priceDirect materialsDirect laborVariable overheadFixed overhead1. Compute gross profit assuming (a) 60,000 units are produced and 60,000 units are sold and (b) 80,000 units are produced and60,000 units are sold.2. By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells?$ 56.00 per unit$9.00 per unit$ 6.50 per unit$11.00 per unit$ 720,000 per year.Complete this question by entering your answers in the tabs below.Required 1Required 2By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells?Gross profitby< Required 1Required 2 Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it usesabsorption costing.Sales priceDirect materialsDirect laborVariable overheadFixed overhead$ 56.00 per unit$9.00 per unit$ 6.50 per unit.$11.00 per unit$ 720,000 per year.1. Compute gross profit assuming (a) 60,000 units are produced and 60,000 units are sold and (b) 80,000 units are produced and60,000 units are sold.2. By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells?Complete this question by entering your answers in the tabs below.Required 1 Required 2Compute gross profit assuming (a) 60,000 units are produced and 60,000 units are sold and (b) 80,000 units are producedand 60,000 units are sold..Gross profit(a) 60,000 UnitsProduced and 60,000Units Sold(b) 80,000 UnitsProduced and 60,000Units Sold

The gross profit is the excess of revenue over the cost of goods sold. It is also the amount…

12 Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it u absorption costing. Sales price Direct materials Direct labor Variable overhead Fixed overhead $56.00 per unit $9.00 per unit $ 6.50 per unit $11.00 per unit $ 720,000 per year 1. Compute gross profit assuming (a) 60,000 units are produced and 60,000 units are sold and (b) 80,000 units are produced and 60,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Required 2 By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells? Gross profit by < Required 1 Required 2

12 Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it u absorption costing. Sales price Direct materials Direct labor Variable overhead Fixed overhead $56.00 per unit $9.00 per unit $ 6.50 per unit $11.00 per unit $ 720,000 per year 1. Compute gross profit assuming (a) 60,000 units are produced and 60,000 units are sold and (b) 80,000 units are produced and 60,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Required 2 By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells? Gross profit by < Required 1 Required 2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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