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 $ 49,000 $ 670,000 Additional Information a. Sales and production data for these first two years follow. Units Units produced Units sold Year 1 50,900 39,000 Year 2 50,900 62,800 b. The company's $31 per unit product cost (for both years) using absorption costing consists of the following. Direct materials Direct labor Variable overhead Fixed overhead ($490,000/49,000 units) Total product cost per unit $ 5 9 7 10 $ 31 Required: Prepare a statement to convert variable costing income to absorption costing income for both years. (Leave no cells blank - be certain to enter "O" wherever required.) Dowell Company Convert Variable Costing Income to Absorption Costing Income Year 1 Variable costing income $ 49,000 $ Year 2 670,000 Absorption costing income