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I need help with this question. If you could, please show how you did your work. Thank you! Below are the options I have for
I need help with this question. If you could, please show how you did your work. Thank you!
Below are the options I have for the Income Statements.
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 units produced 2,400 Number of units sold 1,450 Unit sales price $ 740.00 Direct materials per unit 50.00 Direct labor per unit 80.00 Variable manufacturing overhead per unit 30.00 Fixed manufacturing overhead per unit ($285,600 119.00 2,400 units) Total variable selling expenses ($13 per unit 10 sold) Total fixed general and administrative expenses 85,000.00 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 Sales Less: Cost of Goods Sold Gross Margin Net Operating Income Presidio, Inc. Contribution Margin Income Statement Contribution margin Net Operating Income 3. Compute the difference in profit between full absorption costing and variable costing. Difference in Profit Beginning Inventory Contribution Margin Ending Inventory General and Administrative Expense General and Administrative Expense Interest Expense Less: Selling Expense Net Income After Taxes Sales
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