Dowell Company produces a single product. Its income under variable costing for its first two years of operation follow. Variable Costing Income Year 1 Year 2 Income $ 37,000 $ 550,000 Additional Information Sales and production data for these first two years follow. Units Year 1 Year 2 Units produced 37,700 37,700 Units sold 27,000 48,400 The companys $31 per unit product cost (for both years) using absorption costing consists of the following. Direct materials $ 5 Direct labor 9 Variable overhe