Dowell Company produces a single product. Its Income statements under absorption costing for Its first two years of operation follow 2016 2017 Sales ($44 per unit) Cost of goods sold ($29 per unit) Gross margin Selling and administrative expenses Net income $880,088 $1,768,088 580,8ee 1,16e,eee 600,8e0 388 , eee 28,eee 328,e8 $ 20,eee 280,eee Additionel Information a. Sales and production data for these first two years follow 2016 2017 Units produced Units sold 2, 4,eee b. Varlable cost per unit and total fixed costs are unchanged during 2016 and 2017. The company's $29 per unit product cost consists of the following Direct materials Direct labor Variable overhead Fixed overhead ($300,00e/30,e00 units) Total product cost per unit $ 5 $29