Dowell Company produces a single product. Its income under variable costing for its first two years of operation follow. Variable Costing Income Income Additional Information Year 1 $ 34,000 Year 2 $520,000 a. Sales and production data for these first two years follow. Units Units produced Units sold Year 1 34,400 24,000 Year 2 34,400 44,800 b. The company's $40 per unit product cost (for both years) using absorption costing consists of the following. Direct materials Direct labor Variable overhead Fixed overhead ($340,000/34,000 units) Total product cost per unit Required: $ 8 12 10 10 $ 40 Prepare a statement to convert variable costing income to absorption costing income for both years. (Leave no cells blank - be certain to enter "0" wherever required.) Dowell Company Convert Variable Costing Income to Absorption Costing Income Year 1 Year 2 Variable costing income $ 34,000 $ 520,000 Absorption costing income