Requlred Information Exercise 6-11 (Algo) Absorption costing and varlable costing Income statements LO P2 [The following Information applies to the questions displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. Exercise 6-11 (Algo) Part 1 1. Prepare the current-year Income statement using varlable costing. Required Information Exercise 6-11 (Algo) Absorptlon costing and varlable costing Income statements LO P2 [The following Information applies to the questions displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. Exercise 6-11 (Algo) Part 2 2. Prepare the current-year income statement using absorption costing