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

Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. 310 per unit 105,000 units 108,750 units 3,750 units $ 525,000 262,500 $ 787,500 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,750 units x $140) Fixed (3,750 units X $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 AA 44 per unit 64 per unit $ $3,400,000 $7,000,000 $1,400,000 4,200,000 Variable Costing Income Statement Sales S 33.712.500 Less: Variable costs Beginning inventory: Manufacturing costs this year 0 0 Net income (loss)