Homework Assignment 6 Saved Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,800 rackets and sold 4,700. Each racket was sold at a price of $88. Fixed overhead costs are $74,240, and fixed selling and administrative costs are $65,000. The company also reports the following per unit variable costs for the year: Variable product costs Variable selling and administrative expenses $ 24.80 $ 1.80 - Prepare an income statement under variable costing. U ACES INC. Variable Costing Income Statement int rences Not income foss) Aces Inc., 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, and fixed selling and administrative costs are $66,100. The company also reports the following per unit variable costs for the year: Variable product conta Variable selling and administrative expenses $25.90 $ 2.90 Prepare an income statement under absorption costing. ACES INC Absorption Costing Income Statement ces Selling general and administrative expenses Net income foss)