Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. $ 320 per unit 110,000 units 113,500 units 3,500 units $ 455,000 262,500 $ 717,500 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,500 units * $130) Fixed (3,500 units * $75) Total Manufacturing costs this year Direct materials Direct labor Overhead costs this year Variable overhead Fixed overhead Selling and administrative costs this year Variable Fixed $ $ 42 per unit 60 per unit $3,000,000 $7,000,000 $1,300,000 4,200,000 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)