Required information [The following information applies to the questions displayed below.] Oak Mart, a producer of...

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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 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 (3,750 units x $130) Fixed (3,750 units x $75) Total Manufacturing costs this year Direct materials 320 per unit 115,000 units 118,750 units 3,750 units $ 487,500 281,250 $ 768,750 46 per unit 64 per unit Direct labor Overhead costs this year Variable overhead $3,200,000 Fixed overhead $7,200,000 Selling and administrative costs this year Variable $1,450,000 Fixed 4,400,000 1. Prepare the current-year income statement for the company using variable costing. Sales Less: Variable costs Beginning inventory: Variable costs OAK MART COMPANY Variable Costing Income Statement Manufacturing costs this year Direct materials Direct labor Variable overhead costs Total variable costs available Less: Ending finished goods inventory Variahle cost of noods sold 0 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 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 (3,750 units x $130) Fixed (3,750 units x $75) Total Manufacturing costs this year Direct materials 320 per unit 115,000 units 118,750 units 3,750 units $ 487,500 281,250 $ 768,750 46 per unit 64 per unit Direct labor Overhead costs this year Variable overhead $3,200,000 Fixed overhead $7,200,000 Selling and administrative costs this year Variable $1,450,000 Fixed 4,400,000 1. Prepare the current-year income statement for the company using variable costing. Sales Less: Variable costs Beginning inventory: Variable costs OAK MART COMPANY Variable Costing Income Statement Manufacturing costs this year Direct materials Direct labor Variable overhead costs Total variable costs available Less: Ending finished goods inventory Variahle cost of noods sold 0