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Consider the following Information for Presidio Inc.'s most recent year of operations. Additional Information for Presidio's most recent year of operations follows: $ Number of

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Consider the following Information for Presidio Inc.'s most recent year of operations. Additional Information for Presidio's most recent year of operations follows: $ Number of unita produced Number of units sold Unit salon price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Yixed manufacturing overhead per unit ($346,550 2,900 unita) Total variable selling expenses ($12 per unit sold) Total fixed general and administrative expenses 2.900 1,700 790.00 75.00 105.00 55.00 119.50 + 20,400.00 90,000.00 Required: 2. Complete a full absorption costing Income statement and a variable costing Income statement for Presidio, Assume there was no beginning inventory Presidio, Ine. Full Absorption Income Statement 3 1,343,000 Sales Less: Cost of Goods Sold Gross Margin Less Selling Expense General and Administrative Expense (602,650) 740,350 20,400 90,000 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 $ 1,343,000 Sales Less: Cost of Goods Sold Gross Margin Less: Selling Expense General and Administrative Expense (602,650) 740,350 20,400 90,000 Net Operating Income $ 629,950 Presidio, Inc Contribution Margin Income Statement Sales revenue $ 1,343,000 Los: Variable Manufacturing Costs Variable Selling Expenses (681,500) 20 400 Prosidio, Inc. Contribution Margin Income Statement Sales revenue $ 1,343,000 K Less: Variable Manufacturing Costs Variable Selling Expenses Contribution margin Fixed General and Administrative Expense (681,500) 20,400 641,100 90,000 nces Net Operating Income 551,100 3. Compute the difference in profit between full absorption costing and variable costing. Difference in Profit (78,850)

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