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 * $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 100,000 units 103, 250 units 3,250 units $ 422,500 260,000 $ 682,500 $ 44 per unit $ 66 per unit $3,400,000 $7,200,000 $1,500,000 4,000,000