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 Variable (3,000 units * $135) Fixed (3,000 units * $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 $ 320 per unit 115,000 units 118,000 units 3,000 units $ 405,000 240,000 $ 645,000 $ 40 per unit $ 62 per unit $3,220,000 $7,400,000 $1,416,000 4,600,000 7 1. Prepare the current-year income statement for the company using variable costing. of 3 OAK MART COMPANY Variable Costing Income Statement Sales Less: Variable costs Beginning inventory: Variable costs fook Hint rences Manufacturing costs this year Direct materials Direct labor Variable overhead costs Total variable costs available Less: Ending finished goods inventory Variable cost of goods sold aw 11