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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 ($309,920 ÷ 2,600 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses 2,600 1,550 $ 760.00 60.00 90.00 40.00 119.20 23,250.00 87,000.00 Required: 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.

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 ($309,920 ÷ 2,600 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses 2,600 1,550 $ 760.00 60.00 90.00 40.00 119.20 23,250.00 87,000.00 Required: 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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 ($309,920 ÷ 2,600 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses Complete this question by entering your answers in the tabs below. Required: 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. Req 2A Req 2B Gross Margin Less: Non-Manufacturing Expenses 2,600 1,550 $ 760.00 60.00 90.00 40.00 119.20 Req 3 Net Operating Income 23,250.00 87,000.00 Complete a full absorption costing income statement for Presidio. Assume there was no beginning inventory. Presidio, Incorporated Full Absorption Income Statement
Transcribed Image Text: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 ($309,920 ÷ 2,600 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses Complete this question by entering your answers in the tabs below. Required: 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. Req 2A Req 2B Gross Margin Less: Non-Manufacturing Expenses 2,600 1,550 $ 760.00 60.00 90.00 40.00 119.20 Req 3 Net Operating Income 23,250.00 87,000.00 Complete a full absorption costing income statement for Presidio. Assume there was no beginning inventory. Presidio, Incorporated Full Absorption Income Statement
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 ($309,920+ 2,600 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses Complete this question by entering your answers in the tabs below. Req 2A Required: 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. Contribution Margin Less: Fixed Costs Req 2B Net Operating Income Req 3 Complete a contribution margin income statement for Presidio. Assume there was no beginning inventory. Presidio, Incorporated Contribution Margin Income Statement 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 ($309,920 +2,600 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses Req 2A Consider the following information for Presidio Incorporated's most recent year of operations. 2,600 1,550 Complete this question by entering your answers in the tabs below. Req 2B 2,600 1,550 $ 760.00 Req 3 60.00 90.00 40.00 119.20 Required: 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. Compute the difference in profit between full absorption costing and variable costing. Difference in Profit 23,250.00 87,000.00 < Req 2B Req 3 > $ 760.00 60.00 90.00 40.00 119.20 23,250.00 87,000.00
Transcribed Image Text: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 ($309,920+ 2,600 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses Complete this question by entering your answers in the tabs below. Req 2A Required: 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. Contribution Margin Less: Fixed Costs Req 2B Net Operating Income Req 3 Complete a contribution margin income statement for Presidio. Assume there was no beginning inventory. Presidio, Incorporated Contribution Margin Income Statement 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 ($309,920 +2,600 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses Req 2A Consider the following information for Presidio Incorporated's most recent year of operations. 2,600 1,550 Complete this question by entering your answers in the tabs below. Req 2B 2,600 1,550 $ 760.00 Req 3 60.00 90.00 40.00 119.20 Required: 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. Compute the difference in profit between full absorption costing and variable costing. Difference in Profit 23,250.00 87,000.00 < Req 2B Req 3 > $ 760.00 60.00 90.00 40.00 119.20 23,250.00 87,000.00
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