Exercise 6-5 Absorption costing and variable costing income statements LO P2 Rey Company's single product sells at a price of $234 per unit. Data for its single product for its first year of operations follow Direct materials Direct labor Overhead costs 38 per unit 46 per unit ok Variable overhead Fixed overhead per year Variable 6 per unit s 196,000 per year Selling and administrative expenses 36 per unit s 236,000 per year Fixed nt Units produced and sold 24, 500 units nces 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. Required 1 Required 2 prey 1of 11ll Next Learn How to Speed It Up Der s slow... to... start. Saved 5 Prepare an income statement for the year using absorption costing. REY COMPANY Absorption Costing Income Statement Net income (loss) Prey 1 of 1 ow... to.. start. o search 16 144