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WileyPLUS × ▼ e Home l Chegg.com ← c을secure https://edugen.wileyplus.com/edugen/lti/main.uni Return to Blackboard WileyPLUsiane gandt, Accounting Principles, 12e BACK NEXT ASSIGNMENT RESOURCES Brief Exercise 24-7 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- $1,958,600 budget, $2,207,500 actual; variable costs-$1,016,900 budget, $1,053,700 actua; and controllable fixed costs-$296,000 budget, $303,700 actual Prepare a responsibility report for the Water Division CHAP 24 TORRES COMPANY Water Division Responsibility Report For the Year Ended December 31, 2017 Brief Exercise 24-5 ief Exercise 24 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Review Score Re Obiective LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER
Expert Answer
| TORRES COMPANY | ||||
| Water Division | ||||
| Responsibility Report | ||||
| For the year ended December 31, 2017 | ||||
| Particulars | Budgeted | Actual | Difference | Favourable/ Unfavorable/ Neither Favourable nor Unfavourable |
| Sales | $ 19,58,600.00 | $ 22,07,500.00 | $ 2,48,900.00 | Favourable |
| Less : Variable Cost | $ 10,16,900.00 | $ 10,53,700.00 | $ 36,800.00 | Unfavourable |
| Contribution Margin | $ 9,41,700.00 | $ 11,53,800.00 | $ 2,12,100.00 | Favourable |
| Less : Controllable Fixed Cost | $ 2,96,000.00 | $ 3,03,700.00 | $ 7,700.00 | Unfavourable |
| Operating Income | $ 6,45,700.00 | $ 8,50,100.00 | $ 2,04,400.00 | Favourable |
