Diaz Company reports the following variable costing income statement for its single product. This company's sales totaled 47,000 units, but its production was 77,000 units. It had no beginning finished goods inventory for the current period. DIAZ COMPANY Income Statement (Variable Costing) Sales (47,000 units * $57.60 per unit) $2,679,000 Variable expenses Variable manufacturing expense (47,000 units * $27.70 per unit) 1,301,900 Variable selling and admin. expense (47,000 units * $4.70 per unit) 220,900 Total variable expenses 1,522,888 Contribution margin 1,156,200 Fixed expenses Fixed overhead 284,900 Fixed selling and administrative expense 142,450 Total fixed expenses 427,350 Net income $728,850 1. Convert Diaz's variable costing income statement to an absorption costing Income statement 2. Fill in the blanks: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Convert Diaz's variable costing income statement to an absorption costing income statement DIAZ COMPANY Absorption Costing Income Statement Sales $ 2,679,000 Less: Cost of goods sold Variable manufacturing costs $ 2,132,900 Fixed overhead costs 284,900 2,417,800 261,200 Gross margin Selling general and administrative expenses Variable selling and administrative expenses Fixed selling and administrative costs 220,000 142,450 Total fixed expenses Not income (loss) 363,360 S 102,150 Required 2 > Required 1 Required 2 Fill in the blanks: (Round the fixed overhead per unit to two decimal places.) units fixed overhead per unit The dollar difference in variable costing income and absorption costing income