The following income statements are provided for Li Company's last two years of operation:

	2012	2013
Number of units produced and sold	4,100	3,700
Sales revenue	$69,700	$62,900
Cost of goods sold	55,300	49,960
Gross margin	14,400	12,940
General, selling and administrative expenses	12,620	11,740
Net income	$1,780	$1,200

Assuming that cost behavior did not change over the two year period, what is the annual amount of the company's fixed manufacturing overhead?

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rocky4ever answered this 2 hours later

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