Colorado Furniture Company manufactures bookshelves and uses an activity based costing system to allocate all manufacturing overhead costs. Each bookshelf consists of 6 parts and uses 3 direct labor hours. The direct labor costs $15 per hour and the direct materials per bookshelf is $35. The following information is provided regarding estimated overhead costs: Basis Estimated Basis Activity Materials Handling Assembling Packaging Estimated MOH Costs $7,500 $11,900 $2,160 Number of Parts Number of Parts Number of Bookshelves 7080 parts 7080 parts 1,180 bookshelves O 96.44 53.27 098.27 O 18.27 QUESTION 20 A company's income statement includes gross profit. What kind of company is it? A service company. A merchandising company. A manufacturing company. A merchandising or a manufacturing company. All companies have gross profit