Question
For the year ending December 31, 2022, Swifty Company accumulates the following data for the Plastics Division, which it operates as an investment center: contribution
For the year ending December 31, 2022, Swifty Company accumulates the following data for the Plastics Division, which it operates as an investment center: contribution margin$ 780,760 budget, $ 788,774 actual; controllable fixed costs$ 297,400 budget, $ 303,400 actual. Average operating assets for the year were $ 2,014,000. 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%.)
| SWIFTY COMPANY Plastics Division Responsibility Report choose the accounting period December 31, 2022For the Year Ended December 31, 2022For the Month Ended December 31, 2022 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
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| Difference | |||||||||
| Budget | Actual | Favorable Unfavorable Neither Favorable nor Unfavorable | ||||||||
| select an opening responsibility report item Return on InvestmentGross ProfitNet Income/(Loss)Controllable Fixed CostsVariable CostsNoncontrollable Fixed CostsContribution MarginControllable Margin | $ enter a dollar amount | $ enter a dollar amount | $ enter a dollar amount | select an option UnfavorableNeither Favorable nor UnfavorableFavorable | ||||||
| select a responsibility report item Return on InvestmentNoncontrollable Fixed CostsControllable Fixed CostsContribution MarginGross ProfitControllable MarginNet Income/(Loss)Variable Costs | enter a dollar amount | enter a dollar amount | enter a dollar amount | select an option UnfavorableNeither Favorable nor UnfavorableFavorable | ||||||
| select a closing responsibility report item Controllable MarginNet Income/(Loss)Controllable Fixed CostsNoncontrollable Fixed CostsGross ProfitContribution MarginReturn on InvestmentVariable Costs | $ enter a total amount for this report | $ enter a total amount for this report | $ enter a total amount for this report | select an option FavorableNeither Favorable nor UnfavorableUnfavorable | ||||||
| select a responsibility report item Return on InvestmentContribution MarginGross ProfitNoncontrollable Fixed CostsControllable MarginControllable Fixed CostsVariable CostsNet Income/(Loss) | enter percentages rounded to 1 decimal place | % | enter percentages rounded to 1 decimal place | % | enter percentages rounded to 1 decimal place | % | select an option UnfavorableFavorableNeither Favorable nor Unfavorable | |||
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Financial Accounting
Authors: Tony Davies, Ian Crawford
1st Edition
0273723073, 9780273723073
