Required information Use the following information for the Quick Study below. (Algo) Skip to question [The following information applies to the questions displayed below.] Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,750 rackets and sold 5,280. Each racket was sold at a price of $90. Fixed overhead costs are $87,750 per year, and fixed selling and administrative costs are $66,800 per year. The company also reports the following per unit variable costs for the year. Direct materials $ 12 Direct labor 8 Variable overhead 5 Variable selling and administrative expenses 2 QS 6-5 (Algo) Reporting inventory using variable costing LO P2 Compute the cost of ending finished goods inventory reported on the balance sheet using variable costing.