Required information Exercise 6-11 (Algo) Absorption costing and variable costing income statements LO P2 Skip to question [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 $ 405 per unit Units produced this year 133,000 units Units sold this year 133,000 units Variable selling and administrative expenses $ 29 per unit Fixed selling and administrative expenses $ 4,685,000 per year Direct materials $ 57 per unit Direct labor $ 79 per unit Variable overhead $ 45 per unit Fixed overhead $ 10,108,000 per year rev: 11_12_2021_QC_CS-282603, 01_18_2022_QC_CS-290728 Exercise 6-11 (Algo) Part 1 1. Prepare the current-year income statement using variable costing. 2. Prepare the current-year income statement using absorption costing.