Diaz Company reports the following variable costing income statement for its single product. This company's sales totaled 44,000 units, but its production was 74,000 units. It had no beginning finished goods inventory for the current period. $2,376,000 DIAZ COMPANY Income Statement (Variable Costing) Sales (44,000 units X $54.00 per unit) Variable expenses Variable manufacturing expense (44,000 units X $27.40 per unit) Variable selling and admin. expense (44,000 units X $4.40 per unit) Total variable expenses Contribution margin Fixed expenses Fixed overhead Fixed selling and administrative expense Total fixed expenses Net income 1,205,600 193,600 1,399,200 976,800 251,600 125,800 377,400 $ 599,400 1. Convert Diaz's variable costing income statement to an absorption costing income statement. 2. Fill in the blanks: Required 1 Required 2 Convert Diaz's variable costing income statement to an absorption costing income statement. DIAZ COMPANY Absorption Costing Income Statement $ 2,376,000 Sales Less: Cost of goods sold Fixed overhead costs Gross margin Selling general and administrative expenses Net income (loss) Required Required Fill in the blanks: (Round the fixed overhead per unit to two decimal places.) The dollar difference in variable costing income and absorption costing income = fixed overhead per unit. units Required 2 >