Brief Exercise 10-7

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$2,019,700 budget, $2,274,500 actual; variable costs$1,000,500 budget, $1,049,700 actual; and controllable fixed costs$299,400 budget, $302,900 actual. Prepare a responsibility report for the Water Division.