ExePeise 6-5 Absorption costing and variable costing income statements LO P2 Rey Company's single product sells at a price of $235 per unit. Data for its single product for its first year of operations follow Direct materials Direct labor 39 per unit 47 per unit Overhead costs Variable overhead Fixed overhead per year Selling and administrative expenses Variable Fixed Units produced and sold 5 per unit $ 168,000 per year 37 per unit $ 238,ee0 per year 24,ee0 units 1. Prepare an income statement for the year using absorption costing 2. Prepare an income statement for the year using variable costing. Complete this question by entering your answers in the tabs below. search Prepare an income statement for the year using absorption costing. REY COMPANY Absorption Costing Income Statement Net income (loss)