Aces Incorporated a manufacturer of tennis rackets began operations this year The company produced 6 000 rackets and sold 4 900 Each racket was sold at a price of 90 Fixed overhead costs are 78 000 per year and fixed selling anc administrative costs are 65 200 per year The company also reports the following per unit variable costs for the year Direct materials Direct labor Variable overhead Variable selling and administrative expenses Prepare an Income statement under variable costing ACES INCORPORATED Income Statement Variable Costing 12 8