Torres Company accumulates the following summary data for the year ending December 31, 2020, for its Water Division, which it operates as a profit center: sales-$2,057,500 budget, $2,255,900 actual; variable costs-$1,011,700 budget, $1,048,200 actual; and controllable fixed costs-$298,000 budget, $303,000 actual. Prepare a responsibility report for the Water Division for the year ending December 31, 2020. Controllable Margin Net Income/(Loss) Controllable Fixed Costs Gross Profit Fixed Costs Sales Contribution Margin Variable Costs $ TORRES COMPANY Water Division Responsibility Report For the Year Ended December 31, 2020 Budget Actual Difference Favorable Unfavorable Neither Favorable nor Unfavorable