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 $1,180,e0e $1,988,ee0 Sales ($44 per unit) Cost of goods sold ($29 per unit) Gross margin Selling and administrative expenses Net incone 725,e00 1,385,890 375,008 675.889 296,25e $78,750 333,758 a. Sales and production data for these first two years follow 281 Units produced 35,800 35,088 25,800 45,806 Units sold b. Variable cost per unit and total fixed costs are unchanged during 2016 and 2017. The companys $29 per unit product cost consists of the following Dlrect materials Direct labor Variable overhead Fixed overhead ($3sa,000, 35,000 units) Total product cost per unit $29 c. Seling and administrative expenses consist of the felowing 2016 2017 variable selling and administrative expenses (52.25 per unit) 54,ase $181,258 Fixed selling and adeinistrative expenses Total selling and adeinistrative expenses 246-690240 $2%,258 909 -41-25 1. Comglete income statements for the company for each of its first two years under variable costing Loss amunts should be entered with a minus sign)