Rey Company's only product sells for $ per unit. Data for its first year of operations follow.
Prepare an income statement for the year using absorption costing
Prepare an income statement for the year using variable costing.
Complete this question by entering your answers in the tabs below.
Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below.
Prepare an income statement for the year using variable costing.
begintabularlll
hline multicolumnc REY COMPANY
hline multicolumnc Income Statement Variable Costing
hline Sales & &
hline Less: Variable expenses & &
hline Variable cost of goods sold & &
hline Variable selling and administrative expenses & &
hline & &
hline Contribution margin & &
hline Less: Fixed expenses & &
hline Fixed overhead & &
hline Fixed selling and administrative expenses & &
hline & &
hline Income & &
hline
endtabular
