Exercise 10-16
The Sports Equipment Division of Harrington Company is operated as a profit center. Sales for the division were budgeted for 2017 at $900,000. The only variable costs budgeted for the division were cost of goods sold ($440,000) and selling and administrative ($60,000). Fixed costs were budgeted at $100,000Â for cost of goods sold, $90,000Â for selling and administrative, and $70,000Â for noncontrollable fixed costs. Actual results for these items were:
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Sales$880,000Cost of goods sold       Variable408,000       Fixed105,000Selling and administrative       Variable61,000       Fixed66,000Noncontrollable fixed90,000
Prepare a responsibility report for the Sports Equipment Division for 2017. (List variable costs before fixed costs.)
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HARRINGTON COMPANY
Sports Equipment Division
Responsibility Report
2017
Â
Budget
Actual
Difference
Â
Favorable
Unfavorable
Neither Favorable
Answers
Status NEW
Posted 21 Apr 2017 01:04 AM
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