Rey Company's only product sells for $218 per unit. Data for its first year of operations follow. $ 22 per unit $ 30 per unit $ 8 per unit 220,000 per year $ $ 20 per unit $ 204,000 per year 22,000 units Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Units produced and sold 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 Prepare an income statement for the year using variable costing. Sales Plus: Cost of goods sold Direct materials Direct labor Civad munchand REY COMPANY Income Statement (Variable Costing)

Rey Company's only product sells for $218 per unit. Data for its first year of operations follow. 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. Prepare an income statement for the year using variable costing. Prepare an income statement for the year using variable costing