Question 13 Torres Company accumulates the following summary data for the year e

Question

Question 13 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—$1,982,100 budget, $2,291,800 actual; variable costs—$1,012,300 budget, $1,054,200 actual; and controllable fixed costs—$299,800 budget, $302,400 actual. Prepare a responsibility report for the Water Division. TORRES COMPANY Water Division Responsibility Report For the Year Ended December 31, 2017 Difference Budget Actual Favorable Unfavorable Neither Favorable nor Unfavorable $ $ $ $ $ $

Explanation / Answer

FAVOURABLE/

UNFAVOURABLE

DESCRIPTION BUDGET ACTUAL DIFFRENCE

FAVOURABLE/

UNFAVOURABLE

SALES $1982100 $2291800 $309700 FAVOURABLE VARIABLE COST $1012300 $1054200 $41900 UNFAVOURABLE CONTRIBUTION MARGIN $969800 $1237600 $267800 FAVOURABLE CONTROLLABALE FIXED COST $299800 $302400 $2600 UNFAVOURABLE CONTROLABLE MARGIN $670000 $935200 $265200 FAVOURABLE

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