Show transcribed image text Asignments ACG 2071- Hw 7 ? o lenomreducator.com hmipa -e Hi-Tek Manufacturing Inc. HW 7 ? Hi-Tek Manufacturing Inc. Manufacturing Overhea ® Manufacturing Overhe 082 73978 600 8242 771 1500332338958 value: 5.00 points 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 below Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold $ 1,639,100 1,219,519 419,581 600,000 S (180,419) Gross margin Selling and administrative expenses Net operating loss Tek produced and sold 60.200 units of B300 at a price of S19 per unt and 12,700 units of TS00 ata 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 alocation base Additional information relating to the company’s two product lines is shown below 8300 T500 162 900 Total Direct materials Direct labor Manufacturing overhead S 401,000 S 120,000 $ 42.400 563,900 162 400 493 219 Cost of goods sold 1.219,519
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