Torres Company accumulates the following summary data for the
year ending December 31, 2020, for its Water Division, which it
operates as a profit center: sales—$2,021,500 budget, $2,183,800
actual; variable costs—$1,001,600 budget, $1,044,200 actual; and
controllable fixed costs—$299,100 budget, $302,200 actual.
Prepare a responsibility report for the Water Division for the year
ending December 31, 2020.
TORRES COMPANY |
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Difference |
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Budget |
Actual |
Favorable |
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Select an opening responsibility
report item
Variable CostsSalesFixed CostsControllable Fixed CostsContribution MarginControllable MarginNet Income/(Loss)Gross Profit |
$Enter a dollar amount | $Enter a dollar amount | $Enter the difference | Select an option
FavorableUnfavorableNeither Favorable nor Unfavorable |
|||
Select a responsibility report item
SalesVariable CostsContribution MarginControllable MarginControllable Fixed CostsFixed CostsGross ProfitNet Income/(Loss) |
Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an option
FavorableUnfavorableNeither Favorable nor Unfavorable |
|||
Select a responsibility report item
Variable CostsControllable Fixed CostsControllable MarginContribution MarginFixed CostsGross ProfitNet Income/(Loss)Sales |
Enter a total of the two previous amounts | Enter a total of the two previous amounts | Enter the difference | Select an option
FavorableUnfavorableNeither Favorable nor Unfavorable |
|||
Select a responsibility report item
Contribution MarginFixed CostsVariable CostsSalesGross ProfitControllable Fixed CostsNet Income/(Loss)Controllable Margin |
Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an option
FavorableUnfavorableNeither Favorable nor Unfavorable |
|||
Select a closing responsibility report
item
Variable CostsGross ProfitControllable MarginFixed CostsNet Income/(Loss)Contribution MarginSalesControllable Fixed Costs |
$Enter a total amount for this statement | $Enter a total amount for this statement | $Enter the difference | Select an option
FavorableUnfavorableNeither Favorable nor Unfavorable |
TORRES COMPANY | ||||
Water Division | ||||
Responsibility Report | ||||
For the Year Ended December 31, 2020 | ||||
Budget | Actual | Difference | ||
Sales | 2021500 | 2183800 | 162300 | Favorable |
Variable Costs | 1001600 | 1044200 | 42600 | Unfavorable |
Contribution Margin | 1019900 | 1139600 | 119700 | Favorable |
Controllable Fixed Costs | 299100 | 302200 | 3100 | Unfavorable |
Controllable Margin | 720800 | 837400 | 116600 | Favorable |
Torres Company accumulates the following summary data for the year ending December 31, 2020, for its...
Torres Company accumulates the following summary data for the year ending December 31, 2020, for its Water Division, which it operates as a profit center: sales—$1,935,600 budget, $2,243,000 actual; variable costs—$1,016,200 budget, $1,051,200 actual; and controllable fixed costs—$297,600 budget, $303,400 actual. Prepare a responsibility report for the Water Division for the year ending December 31, 2020. TORRES COMPANY Water Division Responsibility Report For the Year Ended December 31, 2020 Difference Budget Actual Favorable Unfavorable Neither Favorable nor Unfavorable Select an...
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Horatio Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows. Compute the missing amounts. Operating Data Women’s Shoes Men’s Shoes Children’s Shoes Contribution margin $363,420 $ (3) $242,280 Controllable fixed costs 134,600 (4) (5) Controllable margin (1) 121,140 127,870 Sales 807,600 605,700 (6) Variable costs (2) 430,720 336,500 Prepare a responsibility report for the Women’s Shoes Division assuming (1) the data are for the month ended June 30,...
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CUTERALLS PIUg Torres Company accumulates the following summary data for the year ending December 31, 2020, for its Water Division, which it operates as a profit center. sales-$1,958,600 budget, $2,207,500 actual; variable costs-$1,016,900 budget, $1,053,700 actual; and controllable foed costs-$296,000 budget, $303,700 actual. Prepare a responsibility report for the Water Division for the year ending December 31, 2020 TORRES COMPANY Water Division Responsibility Report For the Year Ended December 31, 2020 Difference Favorable Unfavorable Neither Favorable Budget Actual nor Unfavorable...
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wwYwcIn Current Attempt in Progress Torres Company accumulates the following summary data for the year ending December 31, 2020, for ts Water Division, which it operates as a profit center: sales-$2,062,700 budget, $2,288,100 actual; variable costs-$1,000,900 budget, $1,055,500 actual; and controllable fixed costs- $299,000 budget, $303,900 actual. Prepare a responsibility report for the Water Division for the year ending December 31, 2020. TORRES COMPANY Water Division Responsibility Report For the Year Ended December 31, 2020 Difference Favorable Unfavorable Neither Favorable...