Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Katsu, Inc. has a small car division that operates as a profit center. Below is a partially completed responsibility report for the first quarter. Responsibility

Katsu, Inc. has a small car division that operates as a profit center. Below is a partially completed responsibility report for the first quarter.
Responsibility Report
\table[[Sales,Actual,\table[[Flexible],[Budget]],\table[[Flexible Budget],[Variance]],U,\table[[Percentage],[Variance]]],[Revenue,$683,000,$693,000,,,],[\table[[Variable],[Expenses]],300,000,319,000,,,],[\table[[Contribution],[Margin]],383,000,374,000,,,],[\table[[Traceable],[Fixed],[Expenses]],378,000,360,000,,,],[\table[[Division],[Margin]],$5,000,$14,000,,,]]
Compute the percentage variance for the flexible budget variance for division margin. (Round your answer to two decimal places.)
A.180%U
B.180%F
C.64.3%F
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-26

Authors: Douglas J. McQuaig, Patricia A. Bille

6th Edition

0395796997, 978-0395796993

More Books

Students also viewed these Accounting questions

Question

What is the difference between dividends and interest expense?

Answered: 1 week ago

Question

DO CONTRACT WORKERSGETTHE SAME ENTITLEMENTS AS EMPLOYEES?

Answered: 1 week ago

Question

2.5 Describe the purpose of employment equity programs.

Answered: 1 week ago