l help Quesaion 22 (ot 50) 2. Aces, Inc., a manufacturer of tennis rackets, began operations this year. The company produc reported the following income statement using absorption costing 6,000 rackets and sold 4,900. At year-end, the company Sales (4.900 x $90) Cost of goods sold (4,90o Gross margin Selling and $441,00O 186.20O S254.800 $38) strative expenses $179.800 er tennis racket totel $38. which consists of $25 in veriable production costs and $13 In fixed production costs (based on the 6,000 units produced). Ten percent of total selling and administrative expenses are variable Compute net income under varnabte costing O $194.10o O $165.500 O $311.00o O $240.500 O $233,000 1.43 PM A ^@ da) O Type here to search