[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 105,000 units 109,000 units 4,000 units $ 560,000 300,000 $ 860,000 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (4,000 units X $140) Fixed (4,000 units X $75) 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 $ $ 40 per unit 64 per unit $3,400,000 $7,000,000 $1,450,000 4,200,000 1. Prepare the current-year Income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement $ 32,700,000 Sales Less: Variable costs Beginning inventory: Manufacturing costs this year Variable overhead costs Direct labor Direct materials 6.720.000 4,200,000 10.920,000 0 Less: Ending finished goods inventory Fixed selling and administrative costs C 4 200.000 Total fixed expenses 4200.000 Net Income Oss