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Consider the following information for Presidio Inc.'s most recent year of operations. Number of units produced 2,900 Number of units sold 1,750 Sales price per
Consider the following information for Presidio Inc.'s most recent year of operations. Number of units produced 2,900 Number of units sold 1,750 Sales price per unit $ 680.00 Direct materials per unit 55.00 Direct labor per unit 85.00 Variable manufacturing overhead per unit 35.00 Fixed manufacturing overhead per unit ($343,360 118.40 2,900 units) Total variable selling expenses ($13 per unit sold) 22,750.00 Total fixed general and administrative expenses 79,000.00 Required: 2-a. Complete a full absorption costing income statement for Presidio. Assume there was no beginning inventory. 2-b. Complete a variable costing income statement for Presidio. Assume there was no beginning inventory. 3. Compute the difference in profit between full absorption costing and variable costing. Req 2A Req 2B Reg 3 Complete a full absorption costing income statement for Presidio. Assume there was no beginning inventory. Presidio, Inc. Full Absorption Income Statement Sales $ 1,190,000 Cost of Goods Sold Gross Margin Less: Non-Manufacturing Expenses Net Operating Income Req 2A Req 2B Req 3 Complete a variable costing income statement for Presidio. Assume there was no beginning inventory. Presidio, Inc. Variable Costing Income Statement Sales Contribution Margin Less: Fixed Costs Net Operating Income
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