# Torres Company accumulates the following summary data for the year ending December 31, 2020, for its...

###### Question:

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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