Consider the following information for Presidio Inc.'s most recent year of operations. Additional information for Presidio's most recent year of operations follows: 9.1 points $ 2,600 1,600 650.00 75.00 105.00 55.00 118.10 eBook Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Pixed manufacturing overhead per unit ($307,060 + 2,600 units) Total variable selling expenses ($10 per unit sold) Total fixed general and administrative expenses References 16,000.00 76,000.00 Required: 2. Complete a full absorption costing income statement and a variable costing income statement for Presidio. Assume there was no beginning inventory. Presidio, Inc. Full Absorption Income Statement S Sales 1,040,000 Less: Cost of Goods Sold Gross Margin General and Administrative Expense 76,000 Less: Selling Expense 2. Complete a full absorption costing income statement and a variable costing income statement for Presidio. Assume there was no beginning inventory. 9.1 points Presidio, Inc. Full Absorption Income Statement $ Sales 1,040,000 eBook Less: Cost of Goods Sold Gross Margin References 76.000 General and Administrative Expense Less: Selling Expense Net Operating Income Presidio, Inc. Contribution Margin Income Statement Sales revenue $ Less: Variable Manufacturing Costs Variable Selling Expenses 1,040,000 Contribution margin mc. 9.1 points Presidio, Inc. Contribution Margin Income Statement Sales revenue $ Less: Variable Manufacturing Costs Variable Selling Expenses 1,040,000 eBook References Contribution margin Less: Fixed Manufacturing Costs Fixed General and Administrative Expense Net Operating Income 3. Compute the difference in profit between full absorption costing and variable costing. Difference in Profit Consider the following information for Presidio Inc.'s most recent year of operations. Additional information for Presidio's most recent year of operations follows: 9.1 points $ 2,600 1,600 650.00 75.00 105.00 55.00 118.10 eBook Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Pixed manufacturing overhead per unit ($307,060 + 2,600 units) Total variable selling expenses ($10 per unit sold) Total fixed general and administrative expenses References 16,000.00 76,000.00 Required: 2. Complete a full absorption costing income statement and a variable costing income statement for Presidio. Assume there was no beginning inventory. Presidio, Inc. Full Absorption Income Statement S Sales 1,040,000 Less: Cost of Goods Sold Gross Margin General and Administrative Expense 76,000 Less: Selling Expense 2. Complete a full absorption costing income statement and a variable costing income statement for Presidio. Assume there was no beginning inventory. 9.1 points Presidio, Inc. Full Absorption Income Statement $ Sales 1,040,000 eBook Less: Cost of Goods Sold Gross Margin References 76.000 General and Administrative Expense Less: Selling Expense Net Operating Income Presidio, Inc. Contribution Margin Income Statement Sales revenue $ Less: Variable Manufacturing Costs Variable Selling Expenses 1,040,000 Contribution margin mc. 9.1 points Presidio, Inc. Contribution Margin Income Statement Sales revenue $ Less: Variable Manufacturing Costs Variable Selling Expenses 1,040,000 eBook References Contribution margin Less: Fixed Manufacturing Costs Fixed General and Administrative Expense Net Operating Income 3. Compute the difference in profit between full absorption costing and variable costing. Difference in Profit
