Quick Study 19-3 Variable costing income statement LO P2 Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,900 rackets and sold 4,800. Each racket was sold at a price of S89. Fixed overhead costs are $76,110 and fixed selling and administrative costs are $65,100. The company also reports the following per unit costs for the year Variable production costs Variable selling and administrative expenses $24.90 S 1.90 Required Prepare an income statement under variable costing. ACES INC Variable Costing Income Statement Net income (loss)