16 Dowell Company produces a single product. Its income under variable costing for its first two years of operation follow. 3 points Variable Costing Income Income Year 1 Year 2 $ 40,000 $ 580,000 eBook Additional Information a. Sales and production data for these first two years follow. Units Units produced Print Units sold References Year 1 41,000 30,000 Year 2 41,000 52,000 b. The company's $34 per unit product cost (for both years) using absorption costing consists of the following. Direct materials Direct labor Variable overhead $ 6 10 8 Fixed overhead ($400,000/40,000 units) Total product cost per unit Required: 10 $ 34 Prepare a statement to convert variable costing income to absorption costing income for both years. (Leave no cells blank - be certain to enter "0" wherever required.) Dowell Company Convert Variable Costing Income to Absorption Costing Income Year 1 Year 2 Variable costing income $ 40,000 $ 580,000 Absorption costing income