Prepare the current-year income statement for the company using variable costing.

Required information Exercise 19-7 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. $ 330 per unit 115,000 units 118,250 units 3,250 units $ 438,750 260,000 698,750 $ Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units * $135) Fixed (3,250 units * $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 $ $ 48 per unit 68 per unit $3,000,000 $7,400,000 $1,500,000 4,400,000