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. $ 320 per unit 105,000 units 108,500 units 3,500 units $ 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 $140) Fixed (3,500 units X $70) Total Manufacturing costs this year Direct materials Direct labor Overhead this year Variable overhead Fixed overhead Selling and administrative costs this year Variable Fixed 490,000 245,000 735,000 $ $ $ 50 per unit 66 per unit $3,400,000 $ 7,200,000 $1,450,000 4,400,000 1. Prepare the current-year income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement $ 1,365,000 Sales Less: Cost of goods sold Beginning inventory Variable costs $ 490,000 Manufacturing costs this year Direct materials 5,250,000 1. Prepare the current-year income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement $ 1,365,000 Sales Less: Cost of goods sold Beginning inventory: Variable costs $ 490,000