Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,500 units * $135) Fixed (3,500 units X $80) 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 310 per unit 120,000 units 123,500 units 3,500 units $ 472,500 280,000 $ 752,500 46 per unit 66 per unit $ $3,200,000 $7,400,000 $1,350,000 4,000,000 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 Variable Costing Income Statement of 2 Beginning inventory: Manufacturing costs this year Book Hint 0 Print 0 Net income (loss) OAK MART COMPANY Absorption Costing Income Statement Beginning inventory Manufacturing costs this year ht Net Income (loss)