For the year ending December 31, 2022, Cobb Company accumulates the following data for the Plastics Division

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For the year ending December 31, 2022, Cobb Company accumulates the following data for the Plastics Division which it operates as an investment center: contribution margin—$700,000 budget, $710,000 actual; controllable fixed costs—$300,000 budget, $302,000 actual. Average operating assets for the year were $2,000,000. Prepare a responsibility report for the Plastics Division beginning with contribution margin for the year ending December 31, 2022. Compute return on investment using the ROI formula.

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Survey Of Accounting

ISBN: 9781119594536

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt

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