[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 $ 310 per unit Units produced this year 105,000 units Units sold this year 108,000 units Units in beginning-year inventory 3,000 units Beginning inventory costs Variable (3,000 units $140) $ 420,000 Fixed (3,000 units $80) 240,000 Total $ 660,000 Manufacturing costs this year Direct materials $ 46 per unit Direct labor $ 60 per unit Overhead costs this year Variable overhead $ 3,400,000 Fixed overhead $ 7,400,000 Selling and administrative costs this year Variable $ 1,300,000 Fixed 4,200,000

Absorption Costing Income Statement Beginning inventory Manufacturing costs this year Net income (loss) Fixed costs added to(subtracted from) inventory