Rey Company's single product sells at a price of $222 per unit. Data for its single product for its first year of operations follow. $ $ 26 per unit 34 per unit Direct materials Direct labor Overhead costs Variable overhead Fixed overhead per year Selling and administrative expenses Variable Fixed Units produced and sold $ 12 per unit $364,000 per year $ 24 per unit $212,000 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. Required 1 Required 2 Prepare an income statement for the year using absorption costing. REY COMPANY Absorption Costing Income Statement Net income (loss) Required 2 Required 1 Required 2 Prepare an income statement for the year using variable costing. REY COMPANY Variable Costing Income Statement Net income (loss) Jacquie Inc. reports the following annual cost data for its single product. A A Normal production and sales level 76,000 units Sales price 57.60 per unit Direct materials 10.60 per unit Direct labor 8.10 per unit Variable overhead $ 12.60 per unit Fixed overhead $1,276,800 in total A Complete the below table using absorption costing. (Round cost per unit answers to 2 decimal place.) Production volume 76,000 units 112,000 units Cost of goods sold: Cost of goods sold per unit Number of units sold Total cost of goods sold Jacquie Inc. Income statement through gross margin Sales volume 76,000 units 76,000 units If Jacquie increases its production to 112,000 units, while sales remain at the current 76,000 unit level, by how much would the company's gross margin increase or decrease under absorption costing? Assume the company has idle capacity to double current production. Number of units sold Change in fixed overhead cost per unit Change in cost of goods sold