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Fixed Costs Varlable Costs The Swifty operates as a profit center. It reports the following for the year ending December 31, 2020. Sales Variable costs Controllable fixed costs Noncontrollable fixed costs Sales Net Income/(Loss) Contribution Margin Controllable Margin Controllable Fixed Costs Gross Profit Prepare a responsibility report for the Swifty at December 31, 2020. $ Budgeted $2,062,000 $ 794,000 551,100 259,700 Actual $1,905,700 747,100 551,100 259,700 Budget SWIFTY Responsibility Report For the Year Ended December 31, 2020 $ Actual S Difference Favorable Unfavorable Neither Favorable nor Unfavorable Attempts: 0 of 1 used Submit Answer

Fixed Costs Varlable Costs The Swifty operates as a profit center. It reports the following for the year ending December 31, 2020. Sales Variable costs Controllable fixed costs Noncontrollable fixed costs Sales Net Income/(Loss) Contribution Margin Controllable Margin Controllable Fixed Costs Gross Profit Prepare a responsibility report for the Swifty at December 31, 2020. $ Budgeted $2,062,000 $ 794,000 551,100 259,700 Actual $1,905,700 747,100 551,100 259,700 Budget SWIFTY Responsibility Report For the Year Ended December 31, 2020 $ Actual S Difference Favorable Unfavorable Neither Favorable nor Unfavorable Attempts: 0 of 1 used Submit Answer

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The Swifty operates as a profit center. It reports the following for the year ending December 31, 2020. Sales Variable costs Controllable fixed costs Noncontrollable fixed costs Fixed Costs Varlable Costs Sales Net Income (Loss) Contribution Margin Controllable Margin Controllable Fixed Costs Gross Profit < > $ Budgeted $2,062,000 $ 794,000 551,100 259,700 Prepare a responsibility report for the Swifty at December 31, 2020. Actual Budget $1,905,700 747,100 551,100 259,700 SWIFTY Responsibility Report For the Year Ended December 31, 2020 $ $ Actual S $ Difference Favorable Unfavorable Neither Favorable nor Unfavorable Attempts: 0 of 1 used Submit Answer
Transcribed Image Text:The Swifty operates as a profit center. It reports the following for the year ending December 31, 2020. Sales Variable costs Controllable fixed costs Noncontrollable fixed costs Fixed Costs Varlable Costs Sales Net Income (Loss) Contribution Margin Controllable Margin Controllable Fixed Costs Gross Profit < > $ Budgeted $2,062,000 $ 794,000 551,100 259,700 Prepare a responsibility report for the Swifty at December 31, 2020. Actual Budget $1,905,700 747,100 551,100 259,700 SWIFTY Responsibility Report For the Year Ended December 31, 2020 $ $ Actual S $ Difference Favorable Unfavorable Neither Favorable nor Unfavorable Attempts: 0 of 1 used Submit Answer
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