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Use the following information for the Quick Study below. (Algo) The following information applies to the questions displayed below.) Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,150 rackets and sold 4.980. Each racket was sold at a price of $90, Fixed overhead costs are $79,950 per year, and fixed selling and administrative costs are $65,600 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 QS 19-4 (Algo) Variable costing income statement LO P2 Prepare an income statement under variable costing. QS 19-4 (Algo) Variable costing income statement LO P2 Prepare an income statement under variable costing. ACES INCORPORATED Income Statement (Variable Costing)