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Rey Company's single product sells at a price of $232 per unit. Data for its single product for its first year of operations follow. $
Rey Company's single product sells at a price of $232 per unit. Data for its single product for its first year of operations follow. $ 36 per unit 44 per unit Direct materials Direct labor Overhead costs Variable overhead Fixed overhead per year Selling and administrative expenses Variable Fixed Units produced and sold $ 8 per unit $ 255,000 per year $ 34 per unit $ 232,000 per year 25,500 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 1 Required 2 > REY COMPANY Variable Costing Income Statement Net income (loss)
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