[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 119,000 units 4,000 units 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 $135) Fixed (4,000 units x $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 $ 540,000 320,000 $ 860,000 $ $ 46 per unit 62 per unit $3,200,000 $7,200,000 $1,300,000 4,400,000 Variable Costing Income Statement Sales $36,890,000 Beginning inventory Variable costs $ 540,000 Manufacturing costs this year Direct materials 5.290.000 7 130.000 Direct labor Variable overhead costs Less: Variable costs Variable selling and administrative expenses 12.960,000 3,220,000 X 1,300,000 Total variable costs Contribution margin 1.300.000 35 590 000 $ Check my work mode : This shows what is correct or incorrect for the work you Variable overhead costs Less: Variable costs Variable selling and administrative expenses X x 12.960,000 3,220,000 X 1,300,000 Total variable costs Contribution margin 1,300,000 35,590,000 X Fixed overhead costs Fixed selling and administrative costs $ 7 200.000) (4.400,000) Total fixed expenses Net income (loss) 17,600.000) $ 23,990,000 OAK MART COMPANY Absorption Costing Income Statement Beginning inventory Manufacturing costs this year + Net Income (los) Net Income loss) Fixed costs added to subtracted from) inventory