27 Return to questo MC Qu. 131 Aces, Inc., a manufacturer of tennis... Aces, Inc., a manufacturer of tennis rackets, began operations this year. The company produced 6,000 rackets and sold 4.900. the company reported the following income statement using absorption costing year end Sales (4,908 * $90) Cost of goods sold (4,900 $38) Gross margin Selling and administrative expenses Net income $441,000 186,200 $254,800 25,000 $179,800 Production costs per tennis racket total $38, which consists of $25 to variatie production costs and $13 in fixed production costs (based on the 6.000 units produced). Ten percent of total selling and administrative expenses are variable. Compute net income under variable costing Multiple Choice