8. Convert the variable costing net income to an absorbtion net income given the information in problem 7 for 24,000 units sold and 30,000 units of production. A. $43,200 B. S72,000 C.$90,000 D. $100,800 E. None of the above 9. Aces, Inc., a manufacturer of tennis rackets, began operations this year. The company produced 6,000 rackets and sold 4,900. At year-end, the company reported the following income statement using absorption costing Sales (4,900 x $90) $441,000 186,200 $254,800 75,000 $179,800 Cost of goods sold (4,900 x $38) Gross margin Selling and administrative expenses Net Income Production costs per tennis racket total $38, which consists of $25 in variable 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. A. $194,100 B. $165,500 C. $311,000 D. $240,500 E. $233,000 10. Using a traditional costing approach, which of the following manufacturing costs are assigned to products? A. Direct materials and direct labor B. Direct labor and variable manufacturing overhead. C. Fixed manufacturing overhead, direct materials, and direct labor D. Variable manufacturing overhead, direct materials, and direct labor E. Variable manufacturing overhead, direct materials, direct labor, and fixed manufacturing overhead. 11. A company reports the following information for its first year of operations: Units produced this year Units sold this year Direct materials Direct labor Variable overhead ? units 2,900 units $12 per unit $6 per unit $9 per unit $48,000 in total Fixed overhead If the company's cost per unit of finished goods using absorption costing is $35, how many units were produced? A. 4,000 units B. 3,600 units C. 6,000 units D. 5,000 units E. None of the above