34 0 Part 1 of 2 Required information The following information applies to the questions displayed below.) Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow ints Sales ($46 per unit) Coat of goods sold ($31 per unit) Gross margin Selling and administrative expenses Net income 2018 2019 $1,150,000 $2,070,000 775,000 1,395,000 375,000 675,000 296,250 341,250 $ 78,750 $333,750 eBook Additional Information Print a. Sales and production data for these first two years follow. erences Units produced Units sold 2018 2019 35,000 35,000 25,000 45,000 b. Variable cost per unit and total fixed costs are unchanged during 2018 and 2019. The company's $31 per unit product cost consists of the following. Direct materials Direct labor Variable overhead Pixed overhead ($350,000/35,000 units) Total product coat per unit $6 8 7 10 $31 34 its sold 15.000 35.000 25.000 45.000 Part 1 of 2 Variable cost per unit and total feed costs are unchanged during 2018 and 2019. The company's $31 per unit product cost consists of the following 10 Direct materiale Direct labor Variable overhead ed overhead ($350,000/35,000 unita) Total product cost per unit 331 c. Selling and administrative expenses consist of the following fo Variable selling and administrative expenses (52.25 per unit) Fixed selling and administrative expenses Total selling and administrative expenses 2011 2013 356,250 9191,250 240.000 240.000 $295,250 $4,250 1. Prepare income statements for the company for each of its first two years under variable costing (Loss amounts should be entered with a minus sign.) Part102 Selling and administrative expenses consist of the following. 10 Variable selling and distries (12.25 per it) Tidling and dinistrative expenses Total selling and distrative expenses 56.20 $101.250 5256,250 341,250 Boca 1. Prepare income statements for the company for each of its first two years under variable costing (ous amounts should be entered with a minus sign) DOWELL Company Variable Costing Income Staments References 2018 2019 Sales Less: Variable costs Direct materials Direct labor Variable overhead Variable seling and administrative expenses Less: Fixed expenses Net income (los)