Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,900 rackets and sold 5,800. Each racket was sold at a price of $99. Fixed overhead costs are $95,910 for the year, and fixed selling and administrative costs are $66,100 for the year. The company also reports the following per unit variable costs for the year. Direct materiala Direct labor Variable overhead Variable selling and administrative expenses Required: Prepare an Income statement under variable costing. Income (oss) ACES INCORPORATED Variable Costing Income Statement $ 12.27 8.27 5.36 2.90