Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

try not to make it confusing Consider the following information for Presidio Inc.'s most recent year of operations. Additional information for Presidio's most recent year

try not to make it confusing
image text in transcribed
image text in transcribed
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 Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Faced manufacturing overhead per unit ($246,960 +2,100 units) Total variable selling expenses ($11 per unit sold) Totalfoed general and administrative expenses 2,100 1,350 $ 600.00 50.00 80.00 30.00 117,60 14.850.00 71,000.00 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 us 810,000 Less: Cost of Goods Sold Gross Margin Loss: Selling Expense General and Administrative Expenso General and Administrative Expense 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 $ 88.200 Difference in Profit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Wiley CPAexcel Exam Review April Study Guide Regulation 2017

Authors: Wiley

2nd Edition

1119369436, 978-1119369431

More Books

Students also viewed these Accounting questions