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. Direct materials Direct labor Overhead coats Variable overhead Pixed overhead per year Selling and administrative expenses Variable Tixed Units produced and sold 20 per unit 28 per unit per unit $ 160,000 per year $ 18 per unit $ 200,000 per year 20,000 units 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 absorption costing. REY COMPANY Absorption Costing Income Statement MacBook Pro SC a Search or enter address + @ $ A 1 2 3 4 % 5 6 & 7 8 9 W E R T Y U 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 absorption costing. REY COMPANY Absorption Costing Income Statement Net Income (s) Required 2 > MacBook Pro e Q Search or enter address + t # @ 2 3 $ 4 % 5 6 & 7 B 9 Q W E 20 T Y U 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 : equired 2 Prepare an income statement for the year using variable costing. REY COMPANY Variable Costing Income Statement Not income foss) MacBook Pro T e Q Search or enter address + t A 2 3 $ 4 % 5 6 & 7 8 9 W E R T Y U T Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit 40 per unit 60 per unit $ 30 per unit $7,000,000 per year) $ 770,000 $4,250,000 100,000 units 70,000 units 350 per unit $ 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption 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. SIMS COMPANY Variable Costing Income Statement MacBook Pro T e Q Search or enter address + @ $ A # 3 2 & 4 5 6 7 8 9 Q W C 1. Prepare an income statement for the year using variable costing 2. Prepare an income statement for the year using absorption 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. SIMS COMPANY Variable Costing Income Statement Net incomess) Required 2 > MacBook Pro ESC T e Q Search or enter address + @ # A 1 2 3 $ 4 % 5 6 & 7 8 9 Q W E R T Y 1 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement Net income MacBook Pro sc 1 Q Search or enter address @ $ 1 2 # 3 4 % 5 6 & 7 00 9 W E R T Y U
