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 7,550 rackets and sold 5,680. Each racket was sold at a price of $90. Fixed overhead costs are $98.150 per year, and fixed selling and administrative costs are $68.400 per year. The company also reports the following per unit variable costs for the year. 522 Direct materials birect labor Variable overhead Variable selling and administrative expenses QS 6-4 (Algo) Variable costing Income statement LO P2 Prepare an income statement under variable costing Answer is not complete. $ 11.200 ACES INCORPORATED Income Statement (Variable Costing) Sales Less: Variable expenses Variable cost of goods sold 142.000 Variable selling and administrative expenses v 11.300 163,300 357,840 Contribution margin Fixed overhead Fixed selling and administrative expenses SIS $ 0,150 68.400 100.00 s 101.200 Income