Check my WON 100 Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow Sales (548 per unit) Cost of goods sold (533 per unit) Gross margin Selling and administrative expenses Net Income 2018 2019 $1,056,000 $2,016,000 726,000 1,216,000 330,000 630,000 294,500 339,500 $ 35,500 $ 290,500 Additional Information a. Sales and production data for these first two years follow. Units produced Units sold 2018 2019 32,000 32,000 22.000 42.000 b. Variable cost per unit and total fixed costs are unchanged during 2018 and 2019. The company's $33 per unit product cost consists of the following Direct materiale Direct Labor Variable overhead Fixed overhead ($320,000/32,000 units) Total product coat per unit TO $33 c. Selling and administrative expenses consist of the following Variable selling and administrative expenses (52.25 per unit) Fixed selling and administrative expenses Total selling and administrative expenses 2018 2019 $ 49,500 $ 94,500 245.000 245,000 $294,500 $339,500 Problem 19-1A Part 2 2. Prepare a table as in Exhibit 19.12 to convert variable costing income to absorption costing income for both 2018 and 2019. (1.085 amounts should be entered with a minus sign.) DOWELL COMPANY Reconciliation of Variable Costing Income to Absorption Costing Income 2018 2010 Variable costing income poss) Absorption costing income (los)