PROBLEM $1-4.$ Performance Reports $[$LO $1]$ A performance report that compares budgeted and

actual profit in the sporting goods department of Maxwell$$s Department Store for the month of

December follows:

Maxwell$$s Department Store

Sporting Goods

Performance Report December $2017$

Budget Actual Difference

Sales $$700,000$ $$775,000$ $$75,000$

Less:

Cost of merchandise $350,000430,00080,000$

Salaries of sales staff $70,00078,0008,000$

Controllable profit $$280,000$ $$267,000($$$13,000)$