Oak Mart, a producer of solid oak tables, reports the following data from its first year of business.
Sales price per unit $ 320 per unit
Units produced this year 117,000 units
Units sold this year 117,000 units
Variable selling and administrative expenses $ 12 per unit
Fixed selling and administrative expenses $ 4,600,000 per year
Direct materials $ 40 per unit
Direct labor $ 62 per unit
Variable overhead $ 28 per unit
Fixed overhead $ 7,020,000 per year
Exercise 6-11 (Static) Part 1
1. Prepare the current year income statement using variable costing.
rev: 09_30_2021_QC_CDR-376
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