Brief Exercise 22-7 Torres Company accumulates the following summary data for th

Question

Brief Exercise 22-7 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—$2,076,800 budget, $2,240,000 actual; variable costs—$1,002,000 budget, $1,054,100 actual; and controllable fixed costs—$298,600 budget, $303,800 actual.
Prepare a responsibility report for the Water Division.
Brief Exercise 22-7 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-$2,076,800 budget, $2,240,000 actual; variable costs-$1,002,000 budget, $1,054,100 actual; and controllable fixed costs-$298,600 budget, $303,800 actual. Prepare a responsibility report for the Water Division. TORRES COMPANY Water Division Responsibility Report For the Year Ended December 31, 2017 Faverable Uafavorable Neirher Favorable Budget Actual Click if you would like to Show Work for this question: Open Show Work

Explanation / Answer

Budget Actual Difference Sales 2076800 2240000 163200 Favorable Variable costs 1002000 1054100 52100 Unfavorable Contribution margin 1074800 1185900 111100 Favorable Controllable fixed costs 298600 303800 5200 Unfavorable Controllable margin 776200 882100 105900 Favorable

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