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QS 1 8 - 2 5 B ( Algo ) Variable costing income statement LO P 4 Aces Incorporated, a manufacturer of tennis rackets, began
QS B Algo Variable costing income statement LO P
Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced rackets and sold Each racket was sold at a price of $ Fixed overhead costs are $ for the year, and fixed selling and administrative costs are $ 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.
tableACES INCORPORATEDVariable Costing Income StatementSalesVariable expensesVariable selling and administrative expenses,$Variable cost of goods sold,Contribution marginFixed expenses
tableFixed overheadFixed selling and administrative costs
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