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 5 310 per unit 195,000 units 100,250 units 3,250 units Sales price per unit Units producell this year Units sold this year Units in beginnine-year Inventory Teginning inventory costs Variable (1,250 units 5140) Fixed (1,250 units 530) Total Manufacturing costs this year Direct materials Direct labor Overhead costs this year Variable overhead Fixed overhead Selling and dinistrative costs this year Variable $455,000 260.000 $715.000 44 per unit 52 per unit $3,600,000 $2,200,000 $1,450,000 4,400.000 Exercise 19-7 Part 2 2. Prepare the current year income statement for the company using absorption conting 2. Prepare the current-year income statement for the company using absorption costing. OAK MART COMPANY Absorption Costing Income Statement Beginning inventory Manufacturing costs this year Net income (loss)