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A B D E 1 Winter Sports Manufacturing Company-Team Sports Subunit Monthly Performance Report 2 3 For the Month 4 4 Variance Percentage Actual Budgeted Variance 5 Sales $ 430,400 $ 400,000 286,000 275,000 6 Less: Variable expenses 7 Contribution margin 8 Less: Direct fixed expenses $ 144,400 $ 125,000 26,050 25,000 9 Segment margin $ 118,350 $ 100,000 10 Less: Common fixed expenses 61,000 50,000 $ 11 Operating income 57,350 $ 50,000 *Be sure to indicate whether each variance is favorable (F) or unfavorable (0) 1. Complete the performance evaluation report for this subunit (round to three 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 the management's decision criteria is to investigate all variances equal to or exceeding $11,000 and exceeding 16% (both criteria must be met)? 4. Should only unfavorable variances be investigated? Explain. 5. Is it possible that the variances are due to a higher-than-expected sales volume? Explain. 6. Do you think management will place equal weight on each of the $11,000 variances? Explain. 7. Which balanced Scorecard perspective is being addressed through this performance report? In your opinion, is this performance report a lead or lag indicator? Explain. 8. Give one key performance indicator for the other three balanced Scorecard perspectives. Indicate which perspective is being addressed by the indicators you list. Are they lead or lag indicators? Explain. Requirement 1. Complete the performance evaluation report for this subunit (round to three decimal places) (Enter a variance for each account and select whether the variance is unfavorable (U) or favorable (F). Enter the results as positive numbers, Enter the variance percents as a percentage to three decimal places, "XX.XXX%") Winter Sports Company--- Team Sports Subunit Monthly Performance Report For the Month Variance Product Actual Budgeted Variance Percentage Sales $430,400 400,000 Less: Variable expenses 286,000 275,000 % Contribution margin $ 144,400 125,000 26,050 Less: Direct foxed expenses 25,000 Segment margin $ 118,350 100,000 Less: Common fixed expenses 61,000 50,000 $ 57,350 $ 50,000 Operating income Requirement 2. Based on the data presented, what type of responsibility center is this subunit? $ % % $ % 11 This performance report includes therefore this subunit must be Requirement 3. Which items should be investigated if part of management's decision criteria is to investigate all variances equal to or exceeding $11,000 and exceeding 16% (both criteria must be met)? (If an input field is not used in the table, leave the input field empty, do not select a label) Requirement 4. Should only unfavorable variances be investigated? Explain. Managers should investigate Favorable variances Management needs to evaluate to determine the root cause of the variance. Requirement 5. Is it possible that the variances are due to a highehan-expected sales volume? Explain The flexible budget variances due to sales volume differences between budget and actual. Differences in sales volume are captured by the The flexible budget variance is due to Requirement 6. Do you think management wil place equal weight on each of the $11,000 variances? Explain. Management will Additionally, they may not place much weight on because Requirement 7. Which balanced Scorecard perspective is being addressed through this performance report? In your opinion, is this performance report a lead or lag indicator? Explain The performance report addresses the perspective of the balanced scorecard, performance measures tend to be indicators. They typically Requirement 8. Give one key performance indicator for the other Ihree balanced Scorecard perspectives. Indicate which perspective is being addressed by the indicators you list. Are they lead or lag indicators? Explain. Complete the following table to identify one key performance indicator for the three other balanced Scorecard perspectives Balanced Scorecard perspective Key performance Indicator Are they lead or lag indicators? Explain indicator which tend to Each of these performance measures is a above are often better at The performance indicators listed