Check my work 7 Exercise 19-5 Absorption costing and variable costing income statements LO P2 Rey Company's single product sells at a price of $219 per unit. Data for its single product for its first year of operations follow points Direct materials Direct later Overhead conta The overhead per year Selling and administrative expenses Fixed Units produced and sold $ 2) per unit 1 31 per unit per unit $ 25,00 per year 21 per unit $ 200,000 per year 23,000 units 1. Prepare an income statement for the year using absorption costing 2. Prepare an income statement for the year using variable costing fo Complete this question by entering your answers in the tabs below. Resuired 1 Required Prepare an income statement for the year using absorption costing REY COMPANY Absorption Costing content Sales Le Cost of goods Debor Wad Ch 19 Homework 0 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to que 7 Required Required 2 12 po Prepare an income statement for the year using absorption costing. REY COMPANY Absorption Costing Income Statement Sales Less: Cost of goods sold Direct materials Direct labor Variable overhead costs Find overhead costs OOOOO Cost of goods sold Gross margin Oo oo Fedelling and administrative costs Varlat soling and administrative Net income Required 2 > Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion Return to question 7 Required Required 2 2 Prepare an income statement for the year using variable costing REY COMPANY Variable Costing Income Statement 0 Net income