[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 $ Units produced this year Units sold this year 310 per unit 110,000 units 113,750 units 3,750 units Units in beginning-year inventory Beginning inventory costs Variable (3,750 units x $135) Fixed (3,750 units $70) 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 $ 506,250 262,500 $768,750 $3,200,000 $7,400,000 $1,400,000 4,600,000 44 per unit 66 per unit 2. Prepare the current-year income statement for the company using absorption costing. OAK MART COMPANY Absorption Costing Income Statement Beginning inventory Manufacturing costs this year Net income (loss) ! Required information Net income (loss) Fixed costs added to (subtracted from) inventory