kimmel, Accounting, 6e Assignment FINANCIAL &MANAGERIAL; (ACC 110/210) CALCULATO

Question

kimmel, Accounting, 6e Assignment FINANCIAL &MANAGERIAL; (ACC 110/210) CALCULATOR FULL SCREEN PRINTER VERSION ·BACK Exercise 22-16 (Part Level Submission) The Sports Equipment Division of Harrington Company is operated as a profit center. Sales for the division were budgeted for 2017 at $893,450. The only variable costs budgeted for the division were cost of goods sold ($443,980) and selling and administrative ($61,920). Fixed costs were budgeted at $100,410 for cost of goods sold, $90,930 for selling and administrative, and $74,480 for noncontrollable fixed costs. Actual resuits for these items were Sales $881,840 Cost of goods sold Variable Fixed 415,370 104,160 Selling and administrative Variable Fixed 65,700 71,330 89,550 Noncontrollable fixed (a) Prepare a responsibility report for the Sports Equipment Division for 2017. (Llst variable costs before fixed Sports Equipment Division 2017 ty Report et Version 4.24.2.4 Policy 1

Explanation / Answer

HARRINGTON COMPANY Sports

Equipment Division

Responsibility Report

budget

actual

Difference

Favorable or unfavorable

sales

893450

881840

11610

U

cost of goods sold

443980

415370

28610

F

selling and administrative

61920

65700

-3780

U

total variable cost

505900

481070

24830

F

contribution

387550

400770

-13220

U

controllable fixed cost

cost of goods sold

100410

104160

-3750

U

selling and administrative

74480

71330

3150

F

total controllable fixed cost

174890

175490

-600

U

controllable margin

212660

225280

-12620

U

HARRINGTON COMPANY Sports

Equipment Division

Responsibility Report

budget

actual

Difference

Favorable or unfavorable

sales

893450

881840

11610

U

cost of goods sold

443980

415370

28610

F

selling and administrative

61920

65700

-3780

U

total variable cost

505900

481070

24830

F

contribution

387550

400770

-13220

U

controllable fixed cost

cost of goods sold

100410

104160

-3750

U

selling and administrative

74480

71330

3150

F

total controllable fixed cost

174890

175490

-600

U

controllable margin

212660

225280

-12620

U

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