Required Information $!$

Required Information

Use the following Informatlon 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 $6,250$ rackets

and sold $5,030.$ Each racket was sold at a price of $$90.$ Fixed overhead costs are $$81,250$ per year, and fixed selling and

administrative costs are $$65,800$ per year. The company also reports the following per unit varlable costs for the year.

QS $19-5($Algo$)$ Reporting inventory using variable costing LO P$2$

Compute the cost of ending finished goods inventory reported on the balance sheet using varlable costing. Required Information

Use the following Informatlon for the Qulck Study below. $($Algo$)$

$[$The following information applles to the questions displayed below.$]$

Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced $6,250$ rackets

and sold $5,030.$ Each racket was sold at a price of $$90.$ Fixed overhead costs are $$81,250$ per year, and fixed selling and

administrative costs are $$65,800$ per year. The company also reports the following per unit varlable costs for the year.

QS $19-6($Algo$)$ Absorption costing income statement LO P$2$

Prepare an income statement under absorption costing. Required Information

Use the following Informatlon for the Qulck 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 $6,250$ rackets

and sold $5,030.$ Each racket was sold at a price of $$90.$ Fixed overhead costs are $$81,250$ per year, and fixed selling and

administrative costs are $$65,800$ per year. The company also reports the following per unit varlable costs for the year.

QS $19-7($Algo$)$ Reporting inventory using absorption costing LO P$2$

Compute the cost of ending finished goods inventory reported on the balance sheet using absorption costing.

Use the following Informatlon for the Qulck 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 $6,250$ rackets

and sold $5,030.$ Each racket was sold at a price of $$90.$ Fixed overhead costs are $$81,250$ per year, and fixed selling and

administrative costs are $$65,800$ per year. The company also reports the following per unit varlable costs for the year.Direct labor $8$

Variable overhead $5$

Variable selling and administrative expenses $2$QS $19-4($Algo$)$ Variable costing income statement LO P$2$

Prepare an Income statement under varlable costing.