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


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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