The question says it's correct but it's not complete. Not sure what I'm missing.

Oak Mart, a producer of solid oak tables, reports the following data from its second year of business.

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. 310 per unit 120,000 units 123, 250 units 3,250 units $ 455,000 227,500 $ 682,500 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units x $140) Fixed (3,250 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 $ 50 per unit 70 per unit $3,000,000 $7,000,000 $1,500,000 4,400,000 Exercise 19-7 Part 1 1. Prepare the current-year income statement for the company using variable costing. Answer is not complete. OAK MART COMPANY Variable Costing Income Statement Sales 38,207.500 Beginning inventory: Variable costs $ 455,000 Manufacturing costs this year Direct materials Direct labor 6,000,000 8,400,000 3,000,000 17,855,000 Variable overhead costs Total variable costs available Variable selling and administrative expenses 1,500,000 19,355,000 18,852,500 Total variable costs Contribution margin Less: Fixed expenses Fixed selling and administrative costs Fixed overhead costs $4,400,000 7,000,000 Total fixed expenses 11,400,000 Net income (loss) $ 7,452,500