GHT Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a cost center. The budget for the Consumer Products Division for the month ended July 31 is as follows: Customer service salaries Insurance and property taxes Distribution salaries Marketing salaries Engineer salaries Warehouse wages Equipment depreciation Total $546,840 114,660 872,340 1,025,130 836,850 586,110 185,120 $4,167,050 During July, the costs incurred in the Consumer Products Division were as follows: Customer service salaries Insurance and property taxes Distribution salaries Marketing salaries Engineer salaries $642,800 110,240 861,200 1,085,230 815,012 Warehouse wages 562,632 Equipment depreciation 183,610 Total $4,260,724 1. Prepare a budget performance report for the director of the Consumer Products Division for the month of July. If an amount box does not require an entry, leave it blank. GHT Tech Inc. Budget Performance Report-Director, Consumer Products Division For the Month Ended July 31 Line Item Description Customer service salaries Insurance and property taxes Distribution salaries Marketing salaries Engineer salaries Warehouse wages Equipment depreciation Total Feedback Actual Budget Over Budget Under Budget Check My Work 1. Responsibility accounting for cost centers focuses on controlling and reporting of costs. Budget performance reports that report budgeted and actual costs are normally prepared for each cost center. The difference between budgeted and actual for each item is classified as either over budget or under budget. This type of report allows cost center mangers to focus on areas of significant differences.