Prepare responsibility report for Home Appliance Division

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Reference no: EM133094847

Question - First Fast Pte Ltd operates the Home Appliance Division as a profit center. Operating data for this division for the year ended December 31, 2020, are shown below.

 

Budget

Difference from Budget

 

RM

RM

Sales

2,500,000

80,000 U

Cost of goods sold variable

1,100,000

68,000 U

Controllable fixed

300,000

9,000 F

Selling and administrative variable

230,000

7,000 F

Controllable fixed

60,000

3,000 U

Noncontrollable fixed costs

70,000

3,900 U

In addition, First Fast Pte Ltd incurs $160,000 of indirect fixed costs that were budgeted at $175,000. Twenty percent (20%) of these costs are allocated to the Home Appliance Division. None of these costs are controllable by the division manager.

Required -

(a) Prepare a responsibility report for the Home Appliance Division (a profit center) for f the year.

(b) Comment on the manager's performance in controlling revenues and costs.

(c) Identify any costs excluded from the responsibility report and explain why they were excluded.

Reference no: EM133094847

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