Need help fixing part #20

Rey Company's only product sells for $225 per unit. Data for its first year of operations follow. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Units produced and sold $ 29 per unit $ 37 per unit $ 15 per unit $ 493, 000 per year $ 27 per unit $ 218,000 per year 29,000 units 1. Prepare an income statement for the year using absorption costing 2. Prepare an income statement for the year using variable costing. Prepare an income statement for the year using variable costing. REY COMPANY Income Statement (Variable Costing) $ 6,525,000 Sales Plus: Cost of goods sold Variable cost of goods sold Direct labor $ 841,000 841,000 (493,000) Fixed selling and administrative expenses Income (493,000) 2,682,000