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Hi-Tek Manufacturing, Incorporated, makes two industrial component partsB300 and T500. An absorption costing income statement...

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Accounting

Hi-Tek Manufacturing, Incorporated, makes two industrial component partsB300 and T500. An absorption costing income statement for the most recent period is shown below: Hi-Tek Manufacturing, Incorporated Income Statement Sales $ 1,720,000 Cost of goods sold 1,246,076 Gross margin 473,924 Selling and administrative expenses 570,000 Net operating loss $ (96,076)

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