Rey Company's single product sells at a price of $226 per unit. Data for its single product for its first year of operations follow. Direct materials Direct labor Overhead costs 30 per unit $38 per unit 14 per unit 456,000 per year Variable overhead Fixed overhead per year s Selling and administrative expenses Variable Fixed Units produced and sold 28 per unit 220,000 per year $ 28,500 units 1. Prepare an income statement for the year using absorption costing REY COMPANY Absorption Costing Income Statement Net income (loss)