Campbell Industries has gathered the following information about the actual sales revenues and expenses for its pharmaceuticals segment for the most recent year (all data is in millions).
Sales ..................................................................................... $824,320
Variable Cost of Goods Sold ................................................ $185,840
Variable Operating Expenses ............................................... $229,632
Direct Fixed Manufacturing Overhead ................................ $102,600
Direct Fixed Operating Expenses ........................................ $ 16,960
Common Fixed Expenses ..................................................... $ 17,340
Budgeted data for the same time period for the pharmaceutical segment are as follows (all data are in millions):
Budgeted sales in units ....................................................................................... 9,200
Budgeted average selling price per unit............................................................... $ 80
Variable Cost of Goods Sold per unit .................................................................. $ 20
Variable Operating Expenses per unit .................................................................. $ 26
Direct Fixed Manufacturing Overhead (in total) .......................................... $ 95,000
Direct Fixed Operating Expenses (in total) .................................................. $ 16,000
Common Fixed Expenses Allocated to the Pharmaceutical Segment .......... $ 17,000
Prepare a segment margin performance report for the pharmaceutical segment. In this report, be sure to include lines for the contribution margin, the segment margin, and operating income. Calculate a variance and a variance percentage for each line in the report. Round to the nearest hundredth for the variance percentages (for example, if your answer is 16.2384%, round it to 16.24%).