User Account

All Pages

Complete a full absorption costing income statement

Assignment Help Accounting Basics
Reference no: EM131781699

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   2,000
Number of units sold   1,300
Unit sales price $ 650.00
Direct materials per unit   60.00
Direct labor per unit   90.00
Variable manufacturing overhead per unit   40.00
Fixed manufacturing overhead per unit ($235,000 ÷ 2,000 units)   117.50
Total variable selling expenses ($10 per unit sold)   13,000.00
Total fixed general and administrative expenses   70,000.00

2. Complete a full absorption costing income statement and a variable costing income statement for Presidio. Assume there was no beginning inventory.

3. Compute the difference in profit between full absorption costing and variable costing.

Reference no: EM131781699

Questions Cloud

Level of satisfaction with the delivery of hr services : The biggest problem with surveying clients to determine their level of satisfaction with the delivery of HR services is the difficulty in obtaining responses.
How is the information relevant to your research question : How is the information relevant to your research question? What are the main arguments? How reliable do you think the information is, and why?
Show the history of the number of students per computer : Students per computer The following figure shows the history of the number of students per computer in U.S. public schools.
What is the total amount of goodwill recognized : Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. What is the total amount of goodwill recognized at the date of acquisition
Complete a full absorption costing income statement : Complete a full absorption costing income statement and a variable costing income statement for Presidio
Identify the global societal issue you have chosen : Identify the global societal issue you have chosen to research for your Final Argumentative Essay and explain why further research on this topic is important.
Calculate hawks contribution margin per unit : Calculate Hawk's contribution margin per unit and its contribution margin ratio
Show the projected federal spending for medicare : Medicare spending the graph in the figure on the following page shows the projected federal spending for Medicare as a percent of the gross domestic product.
Calculate the company total operating income : Calculate the company's total operating income and average contribution margin ratio. (The new product adds an additional $37,800 in fixed expense)

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss responsibility income statement-preparation

Complete the following segmented income statement for Gameland Village. Follow the contribution margin approach

  Health care costs a businessweek article titled hsas could

health care costs a businessweek article titled hsas could keep you in the pink by christopher farrell describes the

  Discuss the fund accounting implications of the finance

The finance commissioner replies Yes  that will save us lots of money, but we will need to change our accounting system a bit to handle it Discuss the fund accounting implications of the finance commissioner  reply.

  Nancy and jason dreyer have provided 24-hour care for their

nancy and jason dreyer have provided 24-hour care for their 35-year old son john who is severely handicapped and was

  Compare the organization, operation and taxation

Compare the organization, operation, and taxation of "C" corporations and "S" corporations. Be sure to organize your answer so that you address each of the aspects of this question - organization, operation and taxation - completely for each type ..

  What amount of compensation expense is recognized

A restricted stock award was granted at the beginning of 2015 calling for 3,000 shares of stock to be awarded to executives at the beginning of 2019.

  Calculate basic earnings per share of common stock

Question - Net income was $659,250 for the year. Required: Calculate basic earnings per share of common stock for the year

  The amount by which sales revenue exceeds total variable

listed below are nine technical accounting terms1. cost volume profit analysis2. contribution margin ratio3. variable

  Michelangelo inc a software development firm has stock

michelangelo inc. a software development firm has stock outstanding as follows 25000 shares of cumulative 4 preferred

  What qualitative factors should be considered before making

Based on the facts given, would it be profitable to smoke the salmon? Why or why not? What qualitative factors should be considered before making final decision

  Mighty safe fire alarm is currently buying 50000

mighty safe fire alarm is currently buying 50000 motherboard from motherboard inc. at a price of 65 per board. mighty

  Determine the markup percentage on product cost

Magna Lighting Inc. produces and sells lighting fixtures. Determine the markup percentage on product cost

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd