Help Exercise 6-5 Absorption costing and variable costing income statements LO P2 Rey Company's single product sells at a price of $236 per unit. Data for its single product for its first year of operations follow Direct materials Direct labor e per unit 48 per unit 4 per unit 5 141,090 per year 8 per unit Varlable Fixed overhead per year overhead Selling and administrative expenses Varlable Fixed $ 240,000 per year Units produced and sold 23,500 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 Requined2 Prepare an Income statement for the year using absorption costing