Owe Dowell Company produces a single product. Its income under variable costing for its first two years of operation follow.Variable Costing IncomeIncomeAdditional InformationUnitsUnits producedUnits solda. Sales and production data for these first two years follow.Year 1$ 50,000Year 152,00040,000Direct materialsDirect laborVariable overheadFixed overhead ($500,000/50,000 units)Total product cost per unitVariable costing incomeYear 2$ 680,000b. The company's $33 per unit product cost (for both years) using absorption costing consists of the following.Absorption costing incomeYear 252,00064,000Required:Prepare a statement to convert variable costing income to absorption costing income for both years.Note: Leave no cells blank - be certain to enter "0" wherever required.Dowell CompanyConvert Variable Costing Income to Absorption Costing IncomeYear 1$69810$33$50,000 $Year 2680,000

Name: Owe Dowell Company produces a single product. Its income under variabl
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Owe Dowell Company produces a single product. Its income under variable costing for its first two years of operation follow.Variable Costing IncomeIncomeAdditional InformationUnitsUnits producedUnits solda. Sales and production data for these first t