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 $ 420 per unit 136,000 units 136,000 units Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direct materials $ 32 per unit $4,700,000 per year $ 60 per unit Direct labor $ 82 per unit Variable overhead $ 48 per unit Fixed overhead $ 10,744,000 per year 2. Prepare the current-year income statement using absorption costing.

Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. 2. Prepare the current-year income statement using absorption costing