ezto.mheduc Ch 06 Ex 6-5 Exercise 6-5 Absorption costing and variable costing income statements LO P2 Rey Company's single product sells at a price of $220 per unit. Data for its single product for its first year of operations follow. Direct materials 24 per unit Direct labor 32 per unit Overhead costs Variable overhead 10 per unit 288.000 per year Fixed overhead per year Selling and administrative expenses Variable 22 per unit Fixed 208,000 per year Units produced and sold 24,000 units 1. Prepare an income statement for the year using absorption costing REY COMPANY Absorption Costing Income Statement Net income (loss) Accounting question Chegg.com