Question: PLEASE ANSWER ASAP!!! I have only 15 minute left Hi-Tek Labs performs steroid testing services for colleges and universities. Because the company works only with


PLEASE ANSWER ASAP!!! I have only 15 minute left
Hi-Tek Labs performs steroid testing services for colleges and universities. Because the company works only with educational institutions, the price of each test is strictly regulated. Therefore, the costs incurred must be carefully monitored and controlled. Shown below are the standard costs for a typical test: The lab does not maintain an inventory of Petri dishes. Therefore, the dishes purchased each month are used that month. Actual activity for the month of May 2020 , when 2,200 tests were conducted, resulted in the following: Monthly budgeted fixed overhead is $5,250. Revenues for the month were $57,300, and selling and administrative expenses were $2.100 Prepare an income statement for management. HI-TEKLABS Income Statement For the Month Ended May 31, 2020 Sales Revenue Cost of Goods Sold $
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