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  3. rey companys only product sells for $232 per unit.

Rey Companys only product sells for $232 per unit. Data for its first year of...

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Accounting

Rey Companys only product sells for $232 per unit. Data for its first year of operations follow.Prepare an income statement for the year using variable costing.
Required 1
Prepare an income statement for the year using absorption costing.
Direct materials $ 36 per unit
Direct labor $ 44 per unit
Variable overhead $ 8 per unit
Fixed overhead $ 255,000 per year
Variable selling and administrative expenses $ 34 per unit
Fixed selling and administrative expenses $ 232,000 per year
Units produced and sold 25,500 units
Prepare an income statement for the year using absorption costing
Prepare an income statement for the year using variable costing.
(Thank You!)
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