Check my work Hi-Tek Manufacturing. Inc, makes two types of industrial component parts-the B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statenent Sales Cost of goods sold Gross margin Selling and administrative expenses $1,755, 300 1,235,680 519, 620 590,000 Net operating loss $ (70,380) Hi-Tek produced and sold 60,000 units of B300 at a price of $21 per unit a nd 12.700 units of T500 at a price of $39 per unit. The onal cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below T500 400,600 162,700 563,300 s 120,200 $ 42,900 163,100 Direct materials Direct labor Manufacturing overhead Cost of goods sold s 1,235,680 The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek's ABC implementation team concluded that $53,000 and $110,000 of the company's advertising expenses could be directly traced to 8300 and T500, respectively. The remainder of the selling and administrative expenses was organization-sustaining in nature. The ABC team also distributed the company's manufacturing overhead to four activities as shown below