For the year ending December 31, 2014, Cobb Company accumulates the following da

Question

For the year ending December 31, 2014, Cobb Company accumulates the following data for the Plastics Division which it operates as an investment center: contribution margin—$643,240 budget, $664,415 actual; controllable fixed costs—$298,380 budget, $305,520 actual. Average operating assets for the year were $2,005,000.

Prepare a responsibility report for the Plastics Division beginning with contribution margin. (Round ROI to 1 decimal place, e.g. 1.5.)

COBB COMPANY
Plastics Division
Responsibility Report
For the Year Ended December 31, 2014

Difference

Differnce

Budget

Favorable F
Unfavorable U
Neither Favorable
nor Unfavorable N

COBB COMPANY
Plastics Division
Responsibility Report
For the Year Ended December 31, 2014

Difference

Differnce

Budget

Actual

Favorable F
Unfavorable U
Neither Favorable
nor Unfavorable N

Return on InvestmentControllable Fixed CostsVariable CostsContribution MarginFixed CostsControllable MarginGross ProfitNet Income/(Loss)

$

$

$

FUN

Return on InvestmentFixed CostsVariable CostsControllable Fixed CostsControllable MarginContribution MarginGross ProfitNet Income/(Loss)

FUN

Controllable Fixed CostsContribution MarginVariable CostsControllable MarginGross ProfitNet Income/(Loss)Return on InvestmentFixed Costs

$ $ $

FUN

Return on InvestmentVariable CostsContribution MarginGross ProfitControllable Fixed CostsNet Income/(Loss)Controllable MarginFixed Costs

% % %

FUN

Explanation / Answer

For the year ending December 31, 2014, Cobb Company accumulates the following da

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