HELP

Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5,900 rackets and sold 4,800. Each racket was sold at a price of $89. Fixed overhead costs are $76.110 for the year, and fixed selling and administrative costs are $65,100 for the 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 Required: Prepare an income statement under variable costing Income (loss) ACES INCORPORATED Variable Costing Income Statement $11.97 7,97 4.96 1.90 30