options for left column

contribution margin

controllable fixed costs

controllable margin

gross profit

net income(/loss)

variable costs

return on investments

Brief Exercise 24-8 For the year ending December 31, 2017, 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. (Round ROI to 1 decimal place, e.g. 1.6.) COBB COMPANY Plastics Division Responsibility Report For the Year Ended December 31, 2017 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual $ V % % %