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. $ 300 per unit 110,000 units 113,250 units 3,250 units $ 438,750 243, 750 682,500 $ Salen price per unit Units produced this year Units sold this year Unita in beginning-year inventory Beginning inventory costs Variable (3,250 units X $135) Fixed (3,250 units X $75) Total Manufacturing coate this year Direct materials Direct labor Overhead coats this year Variable overhead Fixed overhead Selling and administrative costo this year Variable Fixed 42 per unit 66 per unit $3,400,000 $ 7,200,000 $1,400,000 4,000,000 1. Prepare the current-year income statement for the company using variable costing. DAK MART COMPANY Variable Conting Income Statement $ 33,975,000 Sales Less: Variable costs Beginning inventory: Variable costs $ 438,750 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 Variable selling and administrative expenses 4,620,000 7,260,000 3,400,000 15,718,750 1,400,000 Total variable costs 1,400,000 Contribution margin Less: Fixed expenses dhand Ranta y Ann Direct labor Variable overhead costs Total variable costs available Less: Ending finished goods inventory Variable cost of goods sold Variable selling and administrative expenses 7,260,000 3,400,000 15,718,750 1,400,000 Total variable costs 1,400,000 Contribution margin Less: Fixed expenses Fixed overhead costs Fixed selling and administrative costs $ 7,200,000 4,000,000 11,200,000 Total fixed expenses Net income (loss)