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- $2,021,500 budget, $2,183,800 actual; variable costs-$1,001,600 budget, $1,044,200 actual; and controllable fixed costs-$299,100 budget, $302,200 actual. 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 Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual $ $ $ $ $ $ Net Income/(Loss) Controllable Fixed Costs Contribution Margin Controllable Margin Gross Profit Sales Variable Costs Fixed Costs