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Required information 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 6,850 rackets and sold 5,330 . Each racket was sold-at a price of $90. Fixed overhead costs are $89,050 per year, and fixed selling and administrative costs are $67,000 per year. The company also reports the following per unit variable costs for the year. QS 19-4 (Algo) Variable costing income statement LO P2 Prepare an income statement under variable costing