Torres Company accumulates the following summary data for the year ending December 31, 2020, for...
90.2K
Verified Solution
Link Copied!
Question
Accounting
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$2,095,600 budget, $2,206,400 actual; variable costs$1,007,400 budget, $1,046,400 actual; and controllable fixed costs$298,300 budget, $304,800 actual. Prepare a responsibility report for the Water Division for the year ending December 31, 2020.
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-$2,095,600 budget, $2,206,400 actual; variable costs- $1,007,400 budget, $1,046,400 actual; and controllable fixed costs-$298,300 budget, $304.800 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 nor Unfavorable Budget Actual Sales Favorable Variable Costs Unfavorable Contribution Margin Favorable Controllable Fixed Costs Unfavorable Controllable Margin Favorable
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
