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 110,000 units 113,500 units 3,500 units $ 455,000 262,500 $ 717,500 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,500 units x $130) Fixed (3,500 units X $75) 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 $ 40 per unit 64 per unit $3,000,000 $7,000,000 $1,500,000 4,400,000 1. Prepare the current-year income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement Sales 35,185,000 Less: Variable costs Beginning inventory: Variable costs $ 455,000 Manufacturing costs this year Direct materials Direct labor Variable overhead costs Total variable costs available 455,000 Less: Ending finished goods inventory Variable cost of goods sold Activate Windows. 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 Activate Windows Go to Settings to activate V