exercises classwork Jrl=https%253A%252F%252Fnewce Seved ! Required information Exercise 6-7 Income reporting under absorption costing and variable costing 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 second year of business. 320 per unit 115,000 unita 118,000 units 3,000 units Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3.000 units x $135) Yixed (3,000 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 $405,000 240,000 $ 645,000 40 per unit 62 per unit $3,220,000 $7,400,000 $1,416.00 4,600,000 Exercise 6-7 Part 2 MacBook * 20 F3 DOO do F4 28 FS a F6 og 17 DU DO 59 11 $ MacBook go F3 62 000 000 F4 F5 00 F7 F6 D 48 DO 59 % A * # 3 & 7 5 CO 8 9 02 E R T Y U I C x ter 6 exercises classwork i nexternal browser 08 launchuelhttp%253A%252F%252Fnewe Seved 3 Required information 2 of 2 ped SOR Net Income (los) int ences Faced costs added to subtracted from) inventory MacBook 80 F3 OS 000 64 FS 58 DO F2 A & 6 BA Ro TERITO 7 C Exercise 6-7 Part 1 2 1. Prepare the current-year Income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement 2:14:51 ped Beginning inventory bok Manufacturing cost this year > rences MacBook 80 BRO 000 F4 DU FS F6 18! 17 A # 3 & $ 4 % 5 6 7 C 9 8 V E R Y