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 |
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Difference |
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Budget |
Actual |
Favorable |
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Select an opening responsibility
report item
Gross ProfitFixed CostsVariable CostsNet Income/(Loss)Controllable Fixed CostsControllable MarginContribution MarginSales |
$Enter a dollar amount | $Enter a dollar amount | $Enter the difference | Select an option
FavorableUnfavorableNeither Favorable nor Unfavorable |
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Select a responsibility report item
Variable CostsSalesContribution MarginFixed CostsGross ProfitControllable Fixed CostsControllable MarginNet 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
SalesControllable Fixed CostsGross ProfitControllable MarginVariable CostsFixed CostsNet Income/(Loss)Contribution Margin |
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
Gross ProfitControllable Fixed CostsControllable MarginVariable CostsContribution MarginNet Income/(Loss)SalesFixed Costs |
Enter a dollar amount | Enter a dollar amount | Enter the difference | Select an option
FavorableUnfavorableNeither Favorable nor Unfavorable |
|||
Select a closing responsibility report
item
Controllable Fixed CostsNet Income/(Loss)Fixed CostsVariable CostsControllable MarginContribution MarginSalesGross Profit |
$Enter a total amount for this statement | $Enter a total amount for this statement | $Enter the difference | Select an option
FavorableUnfavorableNeither Favorable nor Unfavorable |
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Open Show Work |
Budget | Actual | ||
---|---|---|---|
Sales | 1,935,600 | 2,243,000 | 307,400 Favourable |
Variable costs | 1,016,200 | 1,051,200 | 35,000 Unfavorable |
Contribution margin | 919,400 | 1,191,800 | 272,400 Favourable |
Fixrd costs | 297,600 | 303,400 | 5,800 Unfavorable |
Controllable margin | 621,800 | 888,400 | 266,600 Favourable |
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