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,eee units 108,500 units 3,500 units $ 490,000 262,500 $ 752,500 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 $140) 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 $ $ 48 per unit 62 per unit $3,200,000 $7,000,000 $1, 45 , 4,200,000 . Prepare the current-year income statement for the company using variable costing. OAK MART COMPANY 15 1. Prepare the current-year Income statement for the company using variable costing. OAK MART COMPANY Part 1 of 3 Variable Costing Income Statement Sales $ 34,720,000 Less: Variable costs 4.54 points Beginning inventory: Variable costs $ 490,000 eBook Manufacturing costs this year Direct materials Direct labor Variable overhead costs 5,040,000 6,510,000 12,040,000 Less: Ending finished goods inventory Variable cost of goods sold Variable selling and administrative expenses Total variable costs available 0 Contribution margin Less: Fixed expenses Fixed overhead costs Fixed selling and administrative costs Fixed overhead costs Net income (loss)