Fixed overhead Exercise 6-11 (Algo) Part 2 2. Prepare the current-year income statement using absorption costing. Income ces OAK MART Income Statement (Absorption Costing) $ 9,288,000 per year Exercise 6-11 (Algo) Part 1 1. Prepare the current-year income statement using variable costing. OAK MART Income Statement (Variable Costing) Sales Income Fixed overhead Exercise 6-11 (Algo) Part 2 2. Prepare the current-year income statement using absorption costing. Income ces OAK MART Income Statement (Absorption Costing) $ 9,288,000 per year Required information Exercise 6-11 (Algo) 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 Units produced this year Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direct materials Direct labor Variable overhead Fixed overhead $ 385 per unit 129,000 units 129,000 units $25 per unit $ 4,665,000 per year $ 53 per unit $ 75 per unit 5 41 per unit $ 9,288,000 per year Exercise 6-11 (Algo) Part 1 1. Prepare the current-year income statement using variable costing