Calculate missing amounts in responsibility reports for three profit centres, and prepare a responsibility report. E11.29 (LO 3) Longhead Footwear Limited has three divisions that are operated as profit centres. Actual operating data for the divisions are as follows: Operating Data Contribution margin Controllable fixed costs Controllable margin Sales Variable costs Women's Men's Children's Shoes Shoes Shoes $250,000 (c) $180,000 100,000 (d) (a) $ 90,000 600,000 (b) 450,000 320,000 (e) 95,000 (f) 250,000 Instructions a. Calculate the missing amounts. Show your calculations. b. Prepare a responsibility report for the women's shoe division assuming (1) the da are for the month ended June 30, 2022, and (2) all data match the budgeted amounts, except variable costs, which are $10,000 over budget.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please answer the following questions thanks
Calculate missing amounts in responsibility reports for three profit centres, and
prepare a responsibility report.
E11.29 (LO 3) Longhead Footwear Limited has three divisions that are operated as
profit centres. Actual operating data for the divisions are as follows:
Operating Women's Men's
Data
Shoes
Shoes
Contribution
$250,000
(c)
margin
Controllable
fixed costs
Controllable
margin
Sales
Variable
costs
100,000 (d)
(a) $ 90,000
600,000
(b)
450,000
320,000
Children's
Shoes
$180,000
(e)
95,000
(f)
250,000
Instructions
a. Calculate the missing amounts. Show your calculations.
b. Prepare a responsibility report for the women's shoe division assuming (1) the data
are for the month ended June 30, 2022, and (2) all data match the budgeted
amounts, except variable costs, which are $10,000 over budget.
Transcribed Image Text:Calculate missing amounts in responsibility reports for three profit centres, and prepare a responsibility report. E11.29 (LO 3) Longhead Footwear Limited has three divisions that are operated as profit centres. Actual operating data for the divisions are as follows: Operating Women's Men's Data Shoes Shoes Contribution $250,000 (c) margin Controllable fixed costs Controllable margin Sales Variable costs 100,000 (d) (a) $ 90,000 600,000 (b) 450,000 320,000 Children's Shoes $180,000 (e) 95,000 (f) 250,000 Instructions a. Calculate the missing amounts. Show your calculations. b. Prepare a responsibility report for the women's shoe division assuming (1) the data are for the month ended June 30, 2022, and (2) all data match the budgeted amounts, except variable costs, which are $10,000 over budget.
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