Rey Company's single product sells at a price of $231 per unit. Data for its single product for its first year of operations follow. Direet materials Direct labor Overhead costs Variable overhead Pixed overhead per year Selling and administrative expenses Variable Fixed Units produced and sold $ 35 per unit $ 43 per unit $ 9 per unit $ 286,000 per year $ 33 per unit $ 230,000 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. 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 ing absorption costing. REY COMPANY Absorption Costing Income Statement Net income (loss) 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 variable costing. REY COMPANY Variable Costing Income Statement 0 Net income (loss)