Required information [The following information applies to the questions displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. Sales price per unit Units produced this year Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direct materials Direct labor Variable overhead Fixed overhead $ 360 per unit 124,000 units 124,000 units $ 4,640,000 per year $ 20 per unit $ 48 per unit $ 70 per unit $ 36 per unit $ 8,308,000 per year 2. Prepare the current-year income statement using absorption costing. Income OAK MART Income Statement (Absorption Costing)