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 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs 30 per unit 115,000 units 118,000 units 3,000 units Variable (3,000 units $140) Fixed (3,000 units $80) Total 420,000 240,000 33 59 660,000 Manufacturing costs this year Direct materials Direct labor Overhead costs this year 48 per unit 60 per unit Variable overhead Fixed overhead $3,600,000 $7,600,000 Selling and administrative costs this year Variable Fixed 1,450,000 4,200,000 2. Prepare the current year income statement for the company using absorption costing