Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. $415 per unit Sales price per unit Units produced this year Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direet materials Direct labor Variable overhead Fixed overhead Exercise 6-11 (Algo) Part 1 1. Prepare the current-year income statement using variable costing. Sales Less Variable expenses Total variable costs available Direct materials Variable overhead costs Contribution margin Less Fixed expenses OAK MART Income Statement (Variable Costing) Fixed overhead Fixed selling and administrative expenses Income 135,000 units 135,000 units $ 31 per unit $4,695,000 per year $ 59 per unit $ 81 per unit $ 47 per unit $ 10,530,000 per year Required information 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 i Variable selling and administrative expenses Fixed selling and administrative expenses Income Direet materials Direct labor Variable overhead Fixed overhead Exercise 6-11 (Algo) Part 2 2. Prepare the current-year income statement using absorption costing. $ 415 per unit 135,000 units 135,000 units $ 31 per unit $4,695,000 per year. $ 59 per unit $ 81 per unit $ 47 per unit $ 10,530,000 per year OAK MART Income Statement (Absorption Costing)