Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,400 rackets and sold 4,300. Each racket was sold at a price of $84. Fixed overhead costs are $66,960, and fixed selling and administrative costs are $64,600. The company also reports the following per unit costs for the year: Variable product costs 24.40
Variable selling and administrative expenses $1.40

Required:
Prepare an income statement under variable costing.

Producers can create their maximum combination of goods, s long as what?

At a young age, ebony's coaches were confident she had the potential to be a world-class swimmer with a future coaching career. after four years on an athletic scholarship and olympic experience under her belt, she chose a different path. with her savings and personal connections, she rented a corner building in a bustling san francisco neighborhood and pursued her dream: a surf shop business. ebony's dream was rooted in which basic right of free-market capitalism?

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.