Exercise 6-11 (Algo) Absorption costing and variable costing income statements LO P2

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[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

Required Information Exerclse 6-11 (Algo) Absorptlon costing and varlable costing Income statements LO P2 [The following Information applles to the questlons displayed below.] Oak Mart, a producer of solld oak tables, reports the following data from its first year of business. Exercise 6-11 (Algo) Part 2 2. Prepare the current-year Income statement using absorption costing. Required Information Exerclse 6-11 (Algo) Absorptlon costing and varlable costing Income statements LO P2 [The following Information applles to the questlons displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. Exercise 6-11 (Algo) Part 1 1. Prepare the current-year Income statement using varlable costing