One subunit of Speed Sports Company had the following financial results last month: (Click the icon...
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One subunit of Speed Sports Company had the following financial results last month: (Click the icon to view the financial results.) Read the requirements. Requirement 1. Complete the performance evaluation report for this subunit. Enter the variance percent as a percentage of the budgeted amount rounded to two places. (Enter a variance for each account as a positive number, and select whether the variance is favorable [F] or unfavorable [U]. For any zero variances, enter a 0 in the variance column and then leave the F or U box blank. Enter the variance percent as a percentage rounded to two decimal places, X.XX%.) Speed- Subunit X Actual Flexible -X Direct Materials Direct Labor Indirect Labor Utilities Depreciation Repairs and Maintenance Total Results Budget Flexible Budget Variance (F or U) $ 28,100 $ 26,000 13,500 14,100 26,000 22,500 12,000 11,200 27,000 27,000 4,100 4,900 $ 110,700 $ 105,700 Requirements 1. Complete the performance evaluation report for this subunit. Enter the variance percent as a percentage of the budgeted amount rounded to two decimal places. 2. Based on the data presented, what type of responsibility center is this subunit? 3. Which items should be investigated if part of management's decision criteria is to investigate all variances exceeding $2,500 or 10%? 4. Should only unfavorable variances be investigated? Explain. - Data table Speed-Subunit X Actual Results Flexible Budget Direct Materials $ Flexible Budget Variance (F or U) 28,100 $ % Variance (F or U) 26,000 Direct Labor 13,500 14,100 Indirect Labor 26,000 22,500 Utilities 12,000 11,200 Depreciation 27,000 27,000 4,100 4,900 Repairs and Maintenance $ 110,700 $ 105,700 Total Print Done One subunit of Speed Sports Company had the following financial results last month: (Click the icon to view the financial results.) Read the requirements. Requirement 1. Complete the performance evaluation report for this subunit. Enter the variance percent as a percentage of the budgeted amount rounded to two places. (Enter a variance for each account as a positive number, and select whether the variance is favorable [F] or unfavorable [U]. For any zero variances, enter a 0 in the variance column and then leave the F or U box blank. Enter the variance percent as a percentage rounded to two decimal places, X.XX%.) Speed- Subunit X Actual Flexible -X Direct Materials Direct Labor Indirect Labor Utilities Depreciation Repairs and Maintenance Total Results Budget Flexible Budget Variance (F or U) $ 28,100 $ 26,000 13,500 14,100 26,000 22,500 12,000 11,200 27,000 27,000 4,100 4,900 $ 110,700 $ 105,700 Requirements 1. Complete the performance evaluation report for this subunit. Enter the variance percent as a percentage of the budgeted amount rounded to two decimal places. 2. Based on the data presented, what type of responsibility center is this subunit? 3. Which items should be investigated if part of management's decision criteria is to investigate all variances exceeding $2,500 or 10%? 4. Should only unfavorable variances be investigated? Explain. - Data table Speed-Subunit X Actual Results Flexible Budget Direct Materials $ Flexible Budget Variance (F or U) 28,100 $ % Variance (F or U) 26,000 Direct Labor 13,500 14,100 Indirect Labor 26,000 22,500 Utilities 12,000 11,200 Depreciation 27,000 27,000 4,100 4,900 Repairs and Maintenance $ 110,700 $ 105,700 Total Print Done
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Requirement 1 Performance Evaluation Report for SpeedSubunit X Actual Results Flexible Budget Varian... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0176223311
1st Canadian Edition
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
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