Check my work 1 ! Required information Part 1 of 2 Exercise 19-7 Income reporting under absorption costing and variable costing LO P2 (The following information applies to the questions displayed below.] 2.14 points Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. S eBook 320 per unit 110,000 units 113,000 units 3,000 units Hint Print $ 390,000 225,000 $ 615,000 References Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,000 units X $130) Fixed (3,000 units x $75) Total Manufacturing costs this year Direct materials Direct labor Overhead costs this year Variable overhead Fixed averhead Selling and administrative costs this year Variable Pixed s $ 50 per unit 64 per unit $3,400,000 $7,000,000 $1,450,000 4,000,000 Exercise 19-7 Part 1 1. Prepare the current-year income statement for the company using variable costing. Exercise 19-7 Part 1 1. Prepare the current-year income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement Beginning inventory: Manufacturing costs this year Net income (loss)