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! Required information [ The following information applies to the questions displayed below. ] Aces Incorporated, a manufacturer of tennis rackets, began operations this year.

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Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,150 rackets and sold 4,980. Each racket was sold at a price of $90. Fixed overhead costs are $79,950 per year, and fixed selling and administrative costs are $65,600 per 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
$12
8
5
2
Prepare an income statement under variable costing.
\table[[ACES INCORPORATED,],[Income Statement (Variable Costing),],[Sales,,$448,200
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