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#7 HW need help filling out chart please Required information [The following information applies to the questions displayed below.] Oak Mart, a producer of solid

#7 HW need help filling out chart please

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Required information [The following information applies to the questions displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. Sales price per unit $ 395 per unit Units produced this year 131,000 units Units sold this year 131,000 units Variable selling and administrative expenses $ 27 per unit Fixed selling and administrative expenses $ 4, 675 , 000 per year Direct materials $ 55 per unit Direct labor $ 77 per unit Variable overhead $ 43 per unit Fixed overhead $ 9, 694, 000 per year 2. Prepare the current-year income statement using absorption costing. OAK MART Income Statement (Absorption Costing) Income

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