Question: please help me I'm so lost 1. Prepare the current-year income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement

please help me I'm so lost

please help me I'm so lost 1. Prepare the current-year income statementfor the company using variable costing. OAK MART COMPANY Variable Costing Income

1. Prepare the current-year income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement Sales Less: Variable costs Beginning inventory: Variable costs Manufacturing costs this year Variable overhead costs Direct labor Direct materials 0 Total fixed costs 0 Net income Net income (loss)[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 $ 330 per unit Units produced this year 115,000 units Units sold this year 118,500 units Units in beginningyear inventory 3,500 units Beginning inventory costs Variable (3,500 units x $135) $ 472,500 Fixed (3,500 units X $80) 280,000 Total $ 752,500 Manufacturing costs this year Direct materials $ 46 per unit Direct labor $ 64 per unit Overhead costs this year Variable overhead $3,000,000 Fixed overhead $7,200,000 Selling and administrative costs this year Variable $1,350,000 Fixed 4,400,000

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