PA5-5 Comparing Full Absorption and Variable Costing [LO 55-1] Consider the following information for Presidio Inc.'s most recent year of operations. Additional information for Presidio's most recent year of operations follows: 2.200 1.000 610 00 $ Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($258,940 - 2,200 units) Total variable selling expenses ($12 per unit sold) Total fixed general and administrative expenses 55 00 8500 35 00 117.70 16 800 00 72 000 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 $ 854 000 Sales Less: Cost of Goods Sold Gross Margin Less Selling Expense General and Administrative Expenso Net Operating Income Type here to search DELL Presidio, Inc. Contribution Margin Income Statement Sales revenue $ 854,000 Variable Selling Expenses 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 References eBook & Resources Financial Statements Difficulty: 3 Hard Type here to search | o B e a g DALI