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, $130) Fixed (3,250 units Total $80) Manufacturing costs this year 310 per unit 100,000 units 103, 250 units 3,250 units $ 422,500 260,000 $ 682,500 Direct materials Direct labor Overhead costs this year Variable overhead $ 44 per unit S 66 per unit $3,400,000 $7,200,000 Fixed overhead Selling and administrative costs this year Variable Fixed $1,500,000 4,000,000