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Consider the following information for Presidio Incorporated's most recent year of operations. Number of units produced 2,200 Number of units sold 1,400 Sales price
Consider the following information for Presidio Incorporated's most recent year of operations. Number of units produced 2,200 Number of units sold 1,400 Sales price per unit $ 610.00 Direct materials per unit 55.00 Direct labor per unit 85.00 Variable manufacturing overhead per unit 35.00 Fixed manufacturing overhead per unit ($258,940 2,200 units) Total variable selling expenses ($12 per unit sold) 117.70 16,800.00 Total fixed general and administrative expenses 72,000.00 Required: 2-a. Complete a full absorption costing income statement for Presidio. Assume there was no beginning inventory. 2-b. Complete a contribution margin income statement for Presidio. Assume there was no beginning inventory. 3. Compute the difference in profit between full absorption costing and variable costing. > Answer is not complete. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Req 3 Complete a full absorption costing income statement for Presidio. Assume there was no beginning inventory. Presidio, Incorporated Full Absorption Income Statement Sales Cost of Goods Sold Gross Margin Less: Non-Manufacturing Expenses Variable Selling Expense Fixed General and Administrative Expense Net Operating Income $ 854,000 409,780 $ 444,220 16,800 72,000 $ 355,420 < Req 2A Req 2B >
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