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(Solved): 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—$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
Water Division
Responsibility Report
For the Year Ended December 31, 2020

Difference

Budget

Actual

Favorable
Unfavorable

Neither Favorable
nor Unfavorable

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

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