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 t-Tek Manufactring the Income Statenent Sales Cost of goods sold Gross margin s 1,755,300 1,238,312 elling and administrative expenses Net operating loss 570,808 etope 56,962 (53,012) ookHi-Tek produced and sold 60,000 units of 8300 at a price of $21 per unit and 12,700 units of T500 at a price of $39 per unit. The COmpany's traditional 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 500Total rint rences 8300 s 400,900 162,900 563,800 Direct materials Direct labor Manufacturing overhead Cost of goods sold $ 120,90 $ 42,600 163,500 511,012 $ 1,238,312 e company has created an activity-based costing system to evaluate the profitablity of ts products. Hi-Tek's-ABC implementation Tek's ABC implementation team concluded that $56.000 and $109,000 of the company's advertising e respectively. The remainder of the selling and administrative expenses was organizat distributed the companys manufacturing overhead to four activities a xpenses could be directly traced to B300 and T500, on-sustaining in nature. The ABC team also K Prev3 of 3 Next Documents e -9 connect . Google Ch ? Do Homework-izieg X1 Book 1-Excel (Produc." AVG AntiVirus