Rey Company's single product sells at a price of $230 per unit. Data for its single product for its first year of operations follow. een Direct materials Direct labor Overhead costs Variable overhead Fixed overhead per year Selling and administrative expenses Variable Fixed Units produced and sold 34 per unit $ 42 per unit 10 per unit $ 318,000 per year is $ 32 per unit $ 228,000 per year 26,500 units 1. Prepare an income statement for the year using absorption costing 2. Prepare an income statement for the year using variable costing. Prepare an income statement for the year using absorption costing. REY COMPANY Absorption Costing Income Statement Sales Net income (loss) Prepare an income statement for the year using variable costing. REY COMPANY Variable Costing Income Statement Sales Net income (loss)