For the year ending December 31, 2017, Cobb Company accumulates the following da

Question

For the year ending December 31, 2017, Cobb Company accumulates the following data for the Plastics Division which it operates as an investment center: contribution margin-$652,320 budget, $660,967 actual; controlilable fixed costs-$301,500 budget, $304,300 actual. Average operating assets for the year were $1,949,000. Prepare a responsibility report for the Plastics Division beginning with contribution margin. (Round Ror to decimal place, eg. is) COBB COMPANY Plastics Division Responsibility Report For the Year Ended December 31, 2017 Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual INK TO TEXT

Explanation / Answer

COBB COMPANY Plastic Division Responsibility Report for the year ended december 31,2017 Difference Budget Actual Favorable (F) , Unfavorable (U) , Neither Favorable Nor Unfavorable (N) Contribution Margin 652320 660967 8647 F Controllable Fixed costs 301500 304300 2800 U Controllable Margin 350820 356667 5847 F Return on Investment 18.00% 18.30% Average Operating Assets 1949000 1949000 Return on Investment 350820/1949000 =18% 356667/1949000 =18.30%

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