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. $ $ 30 per unit 38 per unit $ Direct materials Direct labor Overhead costs Variable overhead Fixed overhead per year Selling and administrative expenses Variable Pixed Units produced and sold 14 per unit $ 456,000 per year $ 28 per unit $ 220,000 per year 28,500 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