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One subunit of Field Sports Company had the following financial results last month: E (Click the icon to view the financial results.) Read the requirements. Requirement 1. Complete the performance evaluation report for the subunit. (Enter a variance for each account as a positive number and select whether the variance is favorable or unfavorable. Enter the variance percent as a percenm rounded to two decimal places, X.XX%.) Actual Flexible Flexible Budget Requirements Subunit X Results Budget Variance (F or U) Net Sales Revenue $ 473,000 s 453.000 1. Complete the performance evaluation report for the subunit (round to two decimal places). 265.000 254,000 Variable Expenses 2. Based on the data presented and your knowledge of the company, 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 equal to or exceeding $4,000 and exceeding 10% (both criteria must be met)? 4. Should only unfavorable variances be investigated? Explain. Is it possible that the variances are due to a higher-than-expected sales volume? Explain. Contribution Margin $ 208,000 S 199,000 Traceable Fixed Expenses 38,000 31,000 $ 170,000 S 168.000 Divisional Segment Margin - X 5. Data table MGIL maongement pinco ogual wninht ton onch of the uadsncos oxcoodigg

One subunit of Field Sports Company had the following financial results last month: E (Click the icon to view the financial results.) Read the requirements. Requirement 1. Complete the performance evaluation report for the subunit. (Enter a variance for each account as a positive number and select whether the variance is favorable or unfavorable. Enter the variance percent as a percenm rounded to two decimal places, X.XX%.) Actual Flexible Flexible Budget Requirements Subunit X Results Budget Variance (F or U) Net Sales Revenue $ 473,000 s 453.000 1. Complete the performance evaluation report for the subunit (round to two decimal places). 265.000 254,000 Variable Expenses 2. Based on the data presented and your knowledge of the company, 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 equal to or exceeding $4,000 and exceeding 10% (both criteria must be met)? 4. Should only unfavorable variances be investigated? Explain. Is it possible that the variances are due to a higher-than-expected sales volume? Explain. Contribution Margin $ 208,000 S 199,000 Traceable Fixed Expenses 38,000 31,000 $ 170,000 S 168.000 Divisional Segment Margin - X 5. Data table MGIL maongement pinco ogual wninht ton onch of the uadsncos oxcoodigg

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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One subunit of Field Sports Company had the following financial results last month: E (Click the icon to view the financial results.) Read the requirements. Requirement 1. Complete the performance evaluation report for the subunit. (Enter a variance for each account as a positive number and select whether the variance is favorable or unfavorable. Enter the variance percent as a percentage rounded to two decimal places, X.XX%.) - X Actual Flexible Flexible Budget Requirements Subunit X Results Budget Variance (F or U) Net Sales Revenue $ 473,000 S 453.000 1. Complete the performance evaluation report for the subunit (round to two decimal places). 265,000 254,000 Variable Expenses Based on the data presented and your knowledge of the company, 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 equal to or exceeding $4,000 and exceeding 10% (both criteria must be met)? Contribution Margin $ 208,000 S 199,000 Traceable Fixed Expenses 38,000 31,000 170,000 S 168,000 Divisional Segment Margin 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. Data table 6. Will management place equal weight on each of the variances exceeding $4,000? Explain. Which balanced scorecard perspective is being addressed through this performance report? In your opinion, is this performance report a lead or a lag indicator? Explain. 8. List one key performance indicator for the three other balanced scorecard perspectives. Make sure to indicate which perspective is being addressed by the indicators you list. 7. Flexlble Budget % Varlance (F Variance (F or U) Subunit X Actual Results Flexible Budget or U) Net Sales Revenue 473,000 S 453,000 Varlable Expenses 265,000 254,000 Contribution Margin 208.000 199,000 38.000 31,000 Traceable Fixed Expenses 170,000 S 168,000 Divisional Segment Margin Print Done
Transcribed Image Text:One subunit of Field Sports Company had the following financial results last month: E (Click the icon to view the financial results.) Read the requirements. Requirement 1. Complete the performance evaluation report for the subunit. (Enter a variance for each account as a positive number and select whether the variance is favorable or unfavorable. Enter the variance percent as a percentage rounded to two decimal places, X.XX%.) - X Actual Flexible Flexible Budget Requirements Subunit X Results Budget Variance (F or U) Net Sales Revenue $ 473,000 S 453.000 1. Complete the performance evaluation report for the subunit (round to two decimal places). 265,000 254,000 Variable Expenses Based on the data presented and your knowledge of the company, 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 equal to or exceeding $4,000 and exceeding 10% (both criteria must be met)? Contribution Margin $ 208,000 S 199,000 Traceable Fixed Expenses 38,000 31,000 170,000 S 168,000 Divisional Segment Margin 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. Data table 6. Will management place equal weight on each of the variances exceeding $4,000? Explain. Which balanced scorecard perspective is being addressed through this performance report? In your opinion, is this performance report a lead or a lag indicator? Explain. 8. List one key performance indicator for the three other balanced scorecard perspectives. Make sure to indicate which perspective is being addressed by the indicators you list. 7. Flexlble Budget % Varlance (F Variance (F or U) Subunit X Actual Results Flexible Budget or U) Net Sales Revenue 473,000 S 453,000 Varlable Expenses 265,000 254,000 Contribution Margin 208.000 199,000 38.000 31,000 Traceable Fixed Expenses 170,000 S 168,000 Divisional Segment Margin Print Done
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