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Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,450...

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Accounting

Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,450 rackets and sold 5,130. Each racket was sold at a price of $90. Fixed overhead costs are $83,850 per year, and fixed selling and administrative costs are $66,200 per year. The company also reports the following per unit variable costs for the year.
Direct materials $ 12
Direct labor 8
Variable overhead 5
Variable selling and administrative expenses 2
Prepare an income statement under variable costing.

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