Required Information [The following information applies to the questions displayed below.) Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,050 rackets and sold 4,930. Each racket was sold at a price of $90. Fixed overhead costs are $78,650 per year, and fixed selling and administrative costs are $65,400 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 Compute the cost of ending finished goods Inventory reported on the balance sheet using variable costing. Finished goods inventory under variable costing Product cost per unit s 0 Finished goods inventory reported on balance sheet