Hi, the person who answered this before did it wrong. Can you
please show me the formulas of how to answer this.
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
$
1,718,000
Cost of goods sold
1,220,369
Gross margin
497,631
Selling and administrative
expenses
650,000
Net operating loss
$
(152,369)
Hi-Tek produced and sold 60,300...