Required Information Exercise 19-11 (Algo) Absorption costing and variable costing income statements 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 first year of business. Sales price per unit Units produced this year Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direct materials Direct labor Variable overhead Fixed overhead $420 per unit 136,000 unite 136,000 units $32 per unit $ 4,700,000 per year $60 per unit $ 82 per unit $48 per unit $ 10,744,000 per year Exercise 19-11 (Algo) Part 1 1. Prepare the current-year income statement using variable costing. Sales Less: Variable expenses Direct materials Direct labor OAK MART Income Statement (Variable Costing) Variable selling and administrative expenses Contribution margin Less: Cost of goods sold < Prev 14 15 of 25 Next > Required information Exercise 19-11 (Algo) Absorption costing and variable costing income statements 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 first year of business. Sales price per unit Units produced this year Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direct materials Direct labor Variable overhead Fixed overhead $ 420 per unit 136,000 units 136,000 unita $ 32 per unit $ 4,700,000 per year $60 per unit $ 82 per unit $ 48 per unit $ 10,744,000 per year Exercise 19-11 (Algo) Part 1 1. Prepare the current-year income statement using variable costing. Sales Less: Variable expenses Direct materials Direct labor OAK MART Income Statement (Variable Costing) Variable selling and administrative expenses Contribution margin Less: Cost of goods sold