equired informationExercise 6-11 (Static) Absorption costing and variable costing income statements LO P2Skip to question

[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.

Sales price per unit	$ 320	per unit
Units produced this year	117,000	units
Units sold this year	117,000	units
Variable selling and administrative expenses	$ 12	per unit
Fixed selling and administrative expenses	$ 4,600,000	per year
Direct materials	$ 40	per unit
Direct labor	$ 62	per unit
Variable overhead	$ 28	per unit
Fixed overhead	$ 7,020,000	per year

Exercise 6-11 (Static) Part 1

Required Information Exercise 6-11 (Static) Absorption costing and variable 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. Sales price per unit $ 320 per unit Units produced this year 117,090 units Units sold this year 117, 090 units Variable selling and administrative expenses $ 12 per unit Fixed selling and administrative expenses $ 4, 600,090 per year Direct materials $ 40 per unit Direct labor $ 62 per unit Variable overhead $ 28 per unit Fixed overhead $ 7, 020,090 per year Exercise 6-11 (Static) Part 1 1. Prepare the current year income statement using variable costing. DAK MART Income Statement (Variable Costing) ncomeRequired Information Exercise 6-11 (Static) Absorption costing and variable 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. Sales price per unit $ 320 per unit Units produced this year 117,090 units Units sold this year 117,ege units Variable selling and administrative expenses $ 12 per unit Fixed selling and administrative expenses $ 4, 600, 800 per year Direct materials $ 40 per unit Direct labor $ 62 per unit Variable overhead $ 28 per unit Fixed overhead $ 7, 020,090 per year Exercise 6-11 (Static) Part 2 2. Prepare the current year income statement using absorption costing. OAK MART Income Statement (Absorption Costing) Income