Homework Help is Here – Start Your Trial Now!
Business
Accounting
The Real Estate Products Division of Blossom Co. is operated as a profit center. Sales for the division were budgeted for 2022 at $1,416,000. The only variable costs budgeted for the division were cost of goods sold ($656,000) and selling and administrative ($103,000). Fixed costs were budgeted at $176,500 for cost of goods sold, $154,500 for selling and administrative costs, and $118,000 for noncontrollable fixed costs. Actual results for these items were as follows: Sales $1,337,710 Cost of goods sold Variable 579,500 Fixed 191,500 Selling and administrative Variable 128,000 Fixed 123,000 Noncontrollable fixed 128,000

The Real Estate Products Division of Blossom Co. is operated as a profit center. Sales for the division were budgeted for 2022 at $1,416,000. The only variable costs budgeted for the division were cost of goods sold ($656,000) and selling and administrative ($103,000). Fixed costs were budgeted at $176,500 for cost of goods sold, $154,500 for selling and administrative costs, and $118,000 for noncontrollable fixed costs. Actual results for these items were as follows: Sales $1,337,710 Cost of goods sold Variable 579,500 Fixed 191,500 Selling and administrative Variable 128,000 Fixed 123,000 Noncontrollable fixed 128,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Please Solve In 20mins
The Real Estate Products Division of Blossom Co. is operated as a profit center. Sales for the division were budgeted for 2022 at $1,416,000. The only variable costs budgeted for the division were cost of goods sold ($656,000) and selling and administrative ($103,000). Fixed costs were budgeted at $176,500 for cost of goods sold, $154,500 for selling and administrative costs, and $118,000 for noncontrollable fixed costs. Actual results for these items were as follows: Sales $1,337,710 Cost of goods sold Variable 579,500 Fixed 191,500 Selling and administrative Variable 128,000 Fixed 123,000 Noncontrollable fixed 128,000 (a) Prepare a responsibility report for the Real Estate Products Division for 2022. (List variable costs before fixed costs.) BLOSSOM CO. Real Estate Products Division Responsibility Report 2022 Dif Favo Unfav Budget Actual Not App Save for Later Attempts: 0 of 1 used Submit Answer > > > > > > >
Transcribed Image Text:The Real Estate Products Division of Blossom Co. is operated as a profit center. Sales for the division were budgeted for 2022 at $1,416,000. The only variable costs budgeted for the division were cost of goods sold ($656,000) and selling and administrative ($103,000). Fixed costs were budgeted at $176,500 for cost of goods sold, $154,500 for selling and administrative costs, and $118,000 for noncontrollable fixed costs. Actual results for these items were as follows: Sales $1,337,710 Cost of goods sold Variable 579,500 Fixed 191,500 Selling and administrative Variable 128,000 Fixed 123,000 Noncontrollable fixed 128,000 (a) Prepare a responsibility report for the Real Estate Products Division for 2022. (List variable costs before fixed costs.) BLOSSOM CO. Real Estate Products Division Responsibility Report 2022 Dif Favo Unfav Budget Actual Not App Save for Later Attempts: 0 of 1 used Submit Answer > > > > > > >
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Present Value
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS