please use template (:

Rey Company's single product sells at a price of $216 per unit. Data for its single product for its first year of operations follow. Prepare an income statement for the year assuming (a) absorption costing and (b) variable costing. $20 per unit $28 per unit E Direct materials Direct labor... Overhead costs Variable overhead. Fixed overhead per year Selling and administrative expenses Variable... Fixed.. Units produced (and sold) $6 per unit $160,000 per year $18 per unit $200,000 per year 20,000 units REY COMPANY Absorption Costing Income Statement Sales (# units x $ per unit). Cost of goods sold Gross margin... Selling and administrative costs. Net income.. per unit per unit per unit per unit per unit Calculate total absorption cost here: Direct materials $ Direct labor Variable overhead Fixed overhead Total absorption cost per unit $ b) REY COMPANY Variable Costing Income Statement Sales (# units x $/unit) Variable expenses Var manuf. expense Var. selling and administrative expense. Total variable expenses Contribution margin Fixed expenses Fixed overhead Fixed selling and administrative expenses Total fixed expenses Net income. Calculate Var. manuf. expense here: per unit per unit Direct materials $ Direct labor Variable overhead Total variable manuf. Cost $ por unit