12 10 points SMpped References Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,600 rackets and sold 5,500. Each racket was sold at a price of $96. Fixed overhead costs are $89,750 for the year. and xed selling and administrative costs are $55,800 for the year. The company also reports the following per unit variable costs for the year. Direct materials S 12.13 Direct labor 3 . l 3 Variable overhead 5.24 Variable selling and administrative expenses 2.60 Required: Prepare an income statement under variable costing. Inmma (lass)