14 Required Information Use the following information for the Quick Study below. (Algo) The following information applies to the questions displayed below Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 7,550 rackets and sold 5.680 Each racket was sold at a price of $90. Fixed overhead costs are $98.150 per year, and fixed selling and administrative costs are $68.400 per year. The company also reports the following per unit variable costs for the year. Direct materia birect labor Variable overhead Variable selling and administrative expenses QS 6-7 (Algo) Reporting Inventory using absorption costing LO P2 Compute the cost of ending finished goods inventory reported on the balance sheet using absorption costing % Answer is not complete. 00.000 Finished goods inventory under absorption costing Direct materials Direct labor Variable overhead Fored overhead 999 G Product cost per unit S 80,000 Finished goods inventory reported on balance sheet $ 71.000