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Ch 19 Homework Saved Help Save& Exit Subm 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 $228 per unit. Data for its single product for its first year of operations follow 12 points 32 per unit 40 per unit Direct materials Direct labor Overhead costs Variable overhead Fixed overhead per year Selling and administrative expenses eBook 12 per unit $ 385,000 per year Hint Print 30 per unit $ 224,000 per year 27,500 unita Variable Fixed References Units produced and sold 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 2 Required 1 Prepare an income statement for the year using absorption costing. REY COMPANY Absorption Costing Income Statement Bales 7 of 7 Next 7 of 7