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Required information [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, $ 330 per unit 120,000 units 123,250 units 3,250 units $ Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units * $130) Fixed (3,250 units * $70) 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 422,500 227,500 650.000 $ $ $ 46 per unit 64 per unit $3,400,000 $ 7,400,000 $1,350,000 4,000,000 2. Prepare the current-year income statement for the company using absorption costing. OAK MART COMPANY Absorption Costing Income Statement 2. Prepare the current-year income statement for the company using absorption costing. OAK MART COMPANY Absorption Costing Income Statement Beginning inventory Manufacturing costs this year int rences Net Income (loss) Fixed costs added to subtracted from inventory