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Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 7 , 9 5 0 rackets and sold 5 , 8

Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 7,950 rackets and sold 5,880. Each racket was sold at a price of $90. Fixed overhead costs are $103,350 per year, and fixed selling and administrative costs are $69,200 per year. The company also reports the following per unit variable costs for the year.
Direct materials $ 12
Direct labor 8
Variable overhead 5
Variable selling and administrative expenses 2
Prepare an income statement under variable costing

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