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. $ 310 per unit 100,000 units 103,750 units 3,750 units $ 487,500 300,000 787,500 $ 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 $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 $ $ 46 per unit 66 per unit $3,000,000 $7,600,000 $1,450,000 4,000,000 1. Prepare the current-year income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement Beginning inventory: Manufacturing costs this year 0 0 Net income (loss) 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) Fixed costs added to(subtracted from) inventory 3. Fill in the blanks: The dollar difference in variable costing income and absorption costing income = units fixed overhead per unit