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 110,000 units 113,000 units 3,000 units $ 405,000 240,000 $ 645,000 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,000 units * $135) Fixed (3,000 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 $ $ 40 per unit 62 per unit $3,200,000 $ 7,200,000 $1,400,000 4,600,000 1. Prepare the current-year income statement for the company using variable costing. 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 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 (los)