Units Units produced Units sold Year 1 Year 2 37,700 27,000 37,700 48,400 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 ($370,000/37,000 units) Total product cost per unit Required: $ 5 9 7 10 $ 31 Prepare a statement to convert variable costing income to absorption costing income for both years. Note: Leave no cells blank - be certain to enter "O" wherever required. Dowell Company Convert Variable Costing Income to Absorption Costing Income Year 1 Year 2 Variable costing income $ 37,000 550,000 Absorption costing income 13