Consider the following information for Presidio Incorporated's most recent year of operations.
Number of units produced
Number of units sold
Sales price per unit
Direct materials per unit
Direct labor per unit
Variable manufacturing overhead per unit
Fixed manufacturing overhead per unit ($334,320 \div 2,800 units)
Total variable selling expenses ($11 per unit sold)
Total fixed general and administrative expenses
Required:
2,800
1,650
$ 780.00
70.00
100.00
50.00
119.40
18,150.00
89,000.00
2-a. Complete a full absorption costing income statement for Presidio. Assume there was no beginning inventory.
2-b. Complete a contribution margin income statement for Presidio. Assume there was no beginning inventory.
3. Compute the difference in profit between full absorption costing and variable costing.
Complete this question by entering your answers in the tabs below.
Req 2A
Req 2B
Req 3
Complete a full absorption costing income statement for Presidio. Assume there was no beginning inventory.
Sales
Cost of Goods Sold
Presidio, Incorporated
Full Absorption Income Statement
Gross Margin
Less: Non-Manufacturing Expenses
