Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. Sales price per unit $ 320 per unit Units produced this year 110,000 units Units sold this year 110,000 units Variable selling and administrative expenses $ 11 per unit Fixed selling and administrative expenses $ 4,000,000 per year Direct materials $ 46 per unit Direct labor $ 68 per unit Variable overhead $ 32 per unit Fixed overhead $ 7,400,000 per year 1. Prepare the current-year income statement using variable costing.