Required information [The following information applies to the questions displayed below.] Vintage Company reports the following information. Compute product cost per unit under variable costing. 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 6,000 rackets and sold 4,900. Each racket was sold at a price of $90. Fixed overhead costs are $78,000 per year, and fixed selling and administrative costs are $65,200 per year. The company also reports the following per unit variable costs for the year. Prepare an income statement under absorption costing. Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,000 units (solar panels) in July and 5,300 units in August. Each unit requires 4 hours of direct labor at a rate of $16 per hour. The company applies variable overhead at the rate of $12 per direct labor hour. Budgeted fixed factory overhear is $180,000 per month. Prepare a factory overhead budget for August. Zahn Company budgets sales of 220 units in May and 240 units in June. Each month's ending inventory should be 25% of the next month's sales. The April 30 ending finished goods inventory is 55 units. Prepare the production budget for May. Zortek Corporation budgets production of 400 units in January and 200 units in February. Each finished unit requires five pounds of material Z, which costs $2 per pound. Each month's ending inventory of material Z should be 40% of the following month's budgeted production. The January 1 inventory has 800 pounds of material Z. Prepare a direct materials budget for January. Liza's budgets sales of $40,000 for May and $52,000 for June. Assume 60% of Liza's sales are for cash. The remaining 40% are credit sales; credit customers pay the entire amount owed in the month following the sale. Prepare the schedule of cash receipts from sales for June