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$2,097,500budget, $2,216,600actual; variable costs$1,003,600budget, $1,042,100actual; and controllable fixed costs$300,800budget, $303,700actual. Prepare a responsibility report for the Water Division for the year ending December 31, 2020.

TORRES COMPANY Water Division Responsibility Report For the Year Ended December 31, 2020
						Difference
		Budget		Actual		Favorable Unfavorable Neither Favorable nor Unfavorable
Select an opening responsibility report item Fixed CostsSalesControllable MarginControllable Fixed CostsGross ProfitContribution MarginVariable CostsNet Income/(Loss)		$Enter a dollar amount		$Enter a dollar amount		$Enter the difference	Select an option FavorableUnfavorableNeither Favorable nor Unfavorable
Select a responsibility report item Contribution MarginControllable Fixed CostsFixed CostsControllable MarginVariable CostsNet Income/(Loss)SalesGross Profit		Enter a dollar amount		Enter a dollar amount		Enter the difference	Select an option FavorableUnfavorableNeither Favorable nor Unfavorable
Select a responsibility report item Gross ProfitFixed CostsControllable Fixed CostsVariable CostsSalesControllable MarginNet Income/(Loss)Contribution Margin		Enter a total of the two previous amounts		Enter a total of the two previous amounts		Enter the difference	Select an option FavorableUnfavorableNeither Favorable nor Unfavorable
Select a responsibility report item Controllable Fixed CostsControllable MarginVariable CostsSalesContribution MarginFixed CostsGross ProfitNet Income/(Loss)		Enter a dollar amount		Enter a dollar amount		Enter the difference	Select an option FavorableUnfavorableNeither Favorable nor Unfavorable
Select a closing responsibility report item Fixed CostsControllable Fixed CostsNet Income/(Loss)Controllable MarginSalesContribution MarginGross ProfitVariable Costs		$Enter a total amount for this statement		$Enter a total amount for this statement		$Enter the difference	Select an option FavorableUnfavorableNeither Favorable nor Unfavorable