Required information [The following information applies to the questions displayed below] Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6.950 rackets and sold 5,380 . Each racket was sold at a price of $90, Foxed overhead costs are $90,350 per year, and fixed selling and administrative costs are $67,200 per year. The company also reports the following per unit variable costs for the year Prepare an income statement under variable costing. Required information [The following information applies to the questions displayed below.] Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,950 rackets and sold 5,380 . Each racket was sold at a price of $90. Fixed overhead costs are $90,350 per year, and fixed selling and administrative costs are $67,200 per year. The company also reports the following per unit variable costs for the year. ompute the cost of ending finished goods inventory reported on the balance sheet using variable costing. Required informotion [The following information applies to the questions displayed below] Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,950 rackets and sold 5,380. Each racket was sold at a price of $90. Fixed overhead costs are $90,350 per year, and fixed selling and administrative costs are $67,200 per year. The company also reports the following per unit varlable costs for the year. Compute the cost of ending finished goods inventory reported on the balance sheet using absorption costing. Required information [The following information applies to the questions displayed below] Aces incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,950 rackets and sold 5,380. Each racket was sold at a price of $90. Fixed overhead costs are $90,350 per year, and fixed selling and administrative costs are $67,200 per year. The company also reports the following per unit variable costs for the year. Prepare an income statement under absorption costing