Question
For the year ending December 31, 2022, Sheffield Company accumulates the following data for the Plastics Division, which it operates as an investment center: contribution
For the year ending December 31, 2022, Sheffield Company accumulates the following data for the Plastics Division, which it operates as an investment center: contribution margin$766,010 budget, $773,964 actual; controllable fixed costs$299,800 budget, $303,700 actual. Average operating assets for the year were $2,027,000. 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%.)
| SHEFFIELD COMPANY Plastics Division Responsibility Report choose the accounting period For the Month Ended December 31, 2022For the Year Ended December 31, 2022December 31, 2022 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
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| Difference | |||||||||
| Budget | Actual | Favorable Unfavorable Neither Favorable nor Unfavorable | ||||||||
| select a responsibility report item Net Income/(Loss)Controllable Fixed CostsReturn on InvestmentControllable MarginGross ProfitContribution MarginVariable CostsNoncontrollable Fixed Costs | $enter a dollar amount | $enter a dollar amount | $enter the difference | select an option Neither Favorable nor UnfavorableUnfavorableFavorable | ||||||
| select a responsibility report item Variable CostsControllable MarginGross ProfitContribution MarginReturn on InvestmentNet Income/(Loss)Noncontrollable Fixed CostsControllable Fixed Costs | enter a dollar amount | enter a dollar amount | enter the difference | select an option FavorableUnfavorableNeither Favorable nor Unfavorable | ||||||
| select a closing responsibility report item Return on InvestmentGross ProfitControllable Fixed CostsNet Income/(Loss)Controllable MarginNoncontrollable Fixed CostsContribution MarginVariable Costs | $enter a total amount | $enter a total amount | $enter the difference | select an option UnfavorableFavorableNeither Favorable nor Unfavorable | ||||||
| select a responsibility report item Controllable MarginReturn on InvestmentControllable Fixed CostsNoncontrollable Fixed CostsNet Income/(Loss)Variable CostsContribution MarginGross Profit | enter percentages | % | enter percentages | % | enter the difference | % | select an option UnfavorableNeither Favorable nor UnfavorableFavorable | |||
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Elementary Statistics
Authors: Mario F. Triola
12th Edition
0321836960, 978-0321836960
