Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,500 rackets and sold 4.400 Each racket was sold at a price of $85 Fixed overhead costs are $68,750, and fixed selling and administrative costs are $64,700 The company also reports the following per unit variable costs for the year Variable product costs Variable selling and administrative expenses $24.50 $ 1.se 024120 Prepare an income statement under absorption costing dook ACES INC. Absorption Costing Income Statement Print cenc Selling general and administrative expenses Not income foss)