Qs 19-4 Absorption costing income statement LO P2 Aces Inc, a manufacturer company also reports the following per unit variable costs for the year of tennis rackets, began operations this year. The company produced 6,000 rackets and sold 4,900. Each at a price of $90. Fbxed overhead costs are $78,000, and fixed selling and administrative costs are $65,200. The Variable product costs Variable selling and adninistrative expenses $25.00 2.00 Prepare an income statement under absorption costing. ACES INC Absorption Costing Income Statement Selling general and administrative expenses Net income (loss)