Exercise 6-11 (Algo) Absorption costing and variable costing income statements [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 busine Sales price per unit Units produced this year Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direct materials Direct labor Variable overhead Fixed overhead $ 330 per unit 105,000 units 105,000 units $ 12 per unit $ 4,400,000 per year $ 44 per unit $ 64 per unit $ 28 per unit $ 7,400,000 per year Exercise 6-11 (Algo) Part 1 1. Prepare the current-year income statement using variable costing. $ 34.650.000 OAK MART Income Statement (Variable Costing) Sales Less Variable expenses Variable selling and administrative expenses $ 1,260,000 Variable cost of goods sold 14,280,000 15,540.000 Contribution margin Income Exercise 6-11 (Algo) Absorption costing and variable costing income statements LO P2 (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 Units produced this year Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direct materials Direct labor Variable overhead Fixed overhead $ 330 per unit 105,000 units 105,000 units $ 12 per unit $ 4,400,000 per year $ 44 per unit $ 64 per unit $ 28 per unit $ 7,400,000 per year Exercise 6-11 (Algo) Part 2 2. Prepare the current-year income statement using absorption costing OAK MART Income Statement (Absorption Costing) Income