Rey Company's only product sells for $231 per unit. Data for its first year of operations follow. $ 35 per unit $ 43 per unit $9 per unit Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Units produced and sold $ 286,000 per year $ 33 per unit. $ 230,000 per year 26,000 units 1. Prepare an income statement for the year using absorption costing 2. Prepare an income statement for the year using variable costing.