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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
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
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.
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