Required information Exercise 19-7 Income reporting under absorption costing and variable costing 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 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 (3,250 units x $130) Fixed (3,250 units x $80) Total Manufacturing costs this year Direct materials Direct labor 59 $ 310 per unit 100,000 units 103, 250 units 3,250 units 422,500 260,000 $ 682,500 SS 44 per unit 66 per unit $3,400,000 $7,200,000 Overhead costs this year Variable overhead Fixed overhead Selling and administrative costs this year Variable $1,500,000 Fixed 4,000,000