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Optimus Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each division is an investment center. Operating data for the Home Division for the year ended December 31, 2020, and relevant budget data are as follows. Actual Comparison with Budget Sales $1.400,000 $101,000 favorable Variable cost of goods sold 680,000 55,000 unfavorable Variable selling and administrative expenses 124,000 24,000 unfavorable On target On target Controllable fixed cost of goods sold 169,000 Controllable fixed selling and administrative expenses 79,000 Average operating assets for the year for the Home Division were $2,000,000 which was also the budgeted amount.

Optimus Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each division is an investment center. Operating data for the Home Division for the year ended December 31, 2020, and relevant budget data are as follows. Actual Comparison with Budget Sales $1.400,000 $101,000 favorable Variable cost of goods sold 680,000 55,000 unfavorable Variable selling and administrative expenses 124,000 24,000 unfavorable On target On target Controllable fixed cost of goods sold 169,000 Controllable fixed selling and administrative expenses 79,000 Average operating assets for the year for the Home Division were $2,000,000 which was also the budgeted amount.

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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View Policies Current Attempt in Progress Optimus Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each division is an investment center. Operating data for the Home Division for the year ended December 31, 2020, and relevant budget data are as follows. Actual Comparison with Budget Sales $1400,000 $101,000 favorable Variable cost of goods sold 680,000 55,000 unfavorable Variable selling and administrative expenses 124,000 24,000 unfavorable On target On target Controllable fixed cost of goods sold 169,000 Controllable fixed selling and administrative expenses 79,000 Average operating assets for the year for the Home Division were $2,000,000 which was also the budgeted amount.
Transcribed Image Text:View Policies Current Attempt in Progress Optimus Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each division is an investment center. Operating data for the Home Division for the year ended December 31, 2020, and relevant budget data are as follows. Actual Comparison with Budget Sales $1400,000 $101,000 favorable Variable cost of goods sold 680,000 55,000 unfavorable Variable selling and administrative expenses 124,000 24,000 unfavorable On target On target Controllable fixed cost of goods sold 169,000 Controllable fixed selling and administrative expenses 79,000 Average operating assets for the year for the Home Division were $2,000,000 which was also the budgeted amount.
Prepare a responsibility report for the Home Division. (List variable casts before foed csts. Round ROl to 2 decimal places, eg 157K) OPTIMUS COMPANY Home Division Responsibility Report For the Year Ended December 31, 2020 Differe Favora Unfavor Neither Fa Budget Actual nor Unfav eTextbook and Medla Attempts: 0 of 3 used Submit Anawer Save for Later
Transcribed Image Text:Prepare a responsibility report for the Home Division. (List variable casts before foed csts. Round ROl to 2 decimal places, eg 157K) OPTIMUS COMPANY Home Division Responsibility Report For the Year Ended December 31, 2020 Differe Favora Unfavor Neither Fa Budget Actual nor Unfav eTextbook and Medla Attempts: 0 of 3 used Submit Anawer Save for Later
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