Question
For the year ending December 31, 2022, Bonita Company accumulates the following data for the Plastics Division, which it operates as an investment center: contribution
For the year ending December 31, 2022, Bonita Company accumulates the following data for the Plastics Division, which it operates as an investment center: contribution margin$780,680 budget, $791,668 actual; controllable fixed costs$301,400 budget, $304,400 actual. Average operating assets for the year were $1,997,000. Prepare a responsibility report for the Plastics Division beginning with contribution margin for the year ending December 31, 2022. (Round ROI to 1 decimal place, e.g. 1.5%.)
BONITA COMPANY Plastics Division Responsibility Report choose the accounting period December 31, 2022For the Year Ended December 31, 2022For the Month Ended December 31, 2022 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
| Difference | |||||||||
Budget | Actual | Favorable Unfavorable Neither Favorable nor Unfavorable | ||||||||
select an opening responsibility report item Variable CostsControllable MarginNoncontrollable Fixed CostsNet Income/(Loss)Gross ProfitControllable Fixed CostsContribution MarginReturn on Investment | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | select an option Neither Favorable nor UnfavorableUnfavorableFavorable | ||||||
select a responsibility report item Net Income/(Loss)Contribution MarginReturn on InvestmentControllable Fixed CostsControllable MarginGross ProfitVariable CostsNoncontrollable Fixed Costs | enter a dollar amount | enter a dollar amount | enter a dollar amount | select an option Neither Favorable nor UnfavorableFavorableUnfavorable | ||||||
select a closing responsibility report item Controllable MarginNoncontrollable Fixed CostsGross ProfitControllable Fixed CostsVariable CostsReturn on InvestmentContribution MarginNet Income/(Loss) | $enter a total amount for this report | $enter a total amount for this report | $enter a total amount for this report | select an option Neither Favorable nor UnfavorableUnfavorableFavorable | ||||||
select a responsibility report item Variable CostsContribution MarginReturn on InvestmentNoncontrollable Fixed CostsControllable MarginGross ProfitNet Income/(Loss)Controllable Fixed Costs | enter percentages rounded to 1 decimal place | % | enter percentages rounded to 1 decimal place | % | enter percentages rounded to 1 decimal place | % | select an option UnfavorableNeither Favorable nor UnfavorableFavorable |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started