The folowing information applies to the questions displayed below) Dowell Company produces a single product. its income statements under absorption costing for its first two years of operation follow 2016 2017 $1,100,eee $1,980,08 725,e00 1,385,890 375,680675,00e selling and administrative expenses296,25e 341,2se $78,750 333,758 Sales ($44 per unit) Cost of goods sold ($29 per unit) Gross margin Net income a. Sales and production data for these first two years follow 2816 Units produced 35,000 35,088 25,800 45,806 Units sold b. Variable 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 Dlrect materials Direct labor Variable overhead Fixed overhead ($3se,e0e/ss, eee units) Total product cost per unit 529 c. Seling and administrative expenses consist of the felowing 2016 2017 Fixed selling and adeinistrative expenses Total selling and adeinistrative expenses varlable selling and administrative expenses (32.25 per unit) 5,2s0 $1e1,2se 240 999 296,258 $341,25e 1. Comglete income statements for the company for each of its first two years under variable costing loss amounts should be entered with s minus sign