Brief Exercise 10-7 Torres Company accumulates the following summary data for th

Question

Brief Exercise 10-7 Torres Company accumulates the following summary data for the year ending December 31, 2017, for its Water Division, which it operates as a profit center: sales-$2,080,900 budget, $2,193,600 actual; variable costs-$1,016,900 budget, $1,049,500 actual; and controllable fixed costs-$298,400 budget, $304,900 actual. Prepare a responsibility report for the Water Division TORRES COMPANY Water Division Responsibility Report For the Year Ended December 31, 2017 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual

Explanation / Answer

Budget Actual Difference Sales 2080900 2193600 112700 F Variable Costs 1016900 1049500 32600 U Contribution Margin 1064000 1144100 80100 F Controllable Fixed Costs 298400 304900 6500 U Controllable Margin 765600 839200 73600 F

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