QS 6-3 Variable costing income statement LO P2 Aces Inc., a manufacturer of tennis rackets, began operations thls year. The company produced 6,800 rackets and sold 5,700. Each racket was sold at a price of $98. Fixed overhead costs are $93,840 and fixed selling and administrative costs are $66,000. The company also reports the following per unit costs for the year Variable product costs Variable selling and administrative expenses s25.80 $ 2.80 Prepare an Income statement under variable costing. ACES INC. Variable Costing Income Statement Sales S 558,600 ess: Cost of goods sold ariable product costs Variable selling and administrative expenses Total variable costs margin Plus: Fixed expenses Fixed overhead costs Fixed selling and administrative costs Fixed selling and administrative costs Net income (loss)