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. 310 per unit 115,000 units 118,258 units 3,250 units $ 422,500 260,000 $ 682,500 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units * $130) Fixed (3,250 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 $ 44 per unit $ 66 per unit $3,600,000 $7,000,000 $1,400,000 4,200, eee 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 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 (loss)