6 QS 21-25B (Algo) Variable costing income statement LO P4 Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5100 rackets and sold 4,000 Each racket was sold at a price of $81 Fixed overhead costs are $61710 for the year, and fixed selling and administrative costs are $64,300 for the year. The company also reports the following per unit variable costs for the year Direct materials 5 11.73 Direct labor 7.73 Variable overhead 4.64 Variable selling and administrative expenses Required: Prepare an income statement under variable costing Book 1.10 Hint PE ACES INCORPORATED Income Statement (Vantable Costing) Horoncos Income.css) 17 QS 21-26B (Algo) Absorption costing income statement LO P4 588 bois Aces incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5,100 rackets and sold 4.000. Each racket was sold at a price of $81. Fred overhead costs are $61710 for the year, and fixed selling and administrative costs are $64.300 for the year. The company also reports the following per unit variable costs for the year Direct materials $11.73 Direct labor 9.73 Variable overhead 4.64 Vare selling and administrative expenses 1.10 book Hit Required: Prepare an income statement under absorption costing, ACES INCORPORATED Income Street (Abbon Costa