Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5,000 rackets and sold 3,900. Each racket was sold at a price of $80. Fixed overthead costs are $60,000 for the year, and fixed seiling and administrative costs are $64,200 for the year. The company also reports the following per unit variable costs for the year. Required: Prepare an income statement under variable costing Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5,000 rackets and sold 3,900. Each racket was sold at a price of $80. Fixed overthead costs are $60,000 for the year, and fixed seiling and administrative costs are $64,200 for the year. The company also reports the following per unit variable costs for the year. Required: Prepare an income statement under variable costing