To make the analysis more tractable, we simplify the equations of Part I to apply to two superposed layers of fluid, with horizontal variations in the motion and magnetic field represented by a small number of Fourier harmonics. The resulting set of eighteen ordinary nonlinear differential equations in time for the Fourier amplitudes is integrated numerically. We analyze in detail the dynamo action from a typical Rossby wave motion and compare it with the solar cycle. The field reversal process is similar in some respects to that put forth by Babcock. Toroidal fields are dragged up by vertical motions in the Rossby waves to form large-scale vertical fields, whose polarities alternate with longitude roughly like bipolar magnetic regions. Vertical fields of preferentially one polarity are carried toward the pole by the meridional motion in the wave to form an axisymmetric poloidal field. This poloidal field is then stretched out by the differential rotation into a new toroidal field of the opposite sign from the original. The poloidal field changes sign when the toroidal and bipolar region like fields are maximum, and vice versa. For the case studied, the reversal period is too short (∼ 2 years) and the poloidal fields too large (∼ 40 G) for the sun. Improvements for the model are discussed.