One subunit of Harris Sports Company had the following financial results last month:(Click the icon to view the financial results.)Read the requirements.Requirement 1. Complete the performance evaluation report for this subunit. Enter the variance percent as a percentage of the budgeted amount rounded to two places. (Enter a variance for each account as apositive number, and select whether the variance is favorable [F] or unfavorable [U]. For any zero variancpercentage rounded to two decimal places, X.XX%.)Data tableActualFlexible% VarianceFlexible BudgetVariance (F or U)Harris-Subunit XResultsBudget(F or U)%ActualFlexible BudgetDirect Materials% Variance(F or U)Results%Direct LaborHarris-Subunit XDirect MaterialsFlexible Budget Variance (F or U)25,900%Indirect LaborDirect Labor13,800UtilitiesIndirect Labor23.100DDepreciationUtilities11,300Repairs and Maintenance.Depreciation25,0005,600Repairs and Maintenance104,700Totalesc?SS28,000 $13,00026,40012,30025,0004.600109.300 Si #25,90013,80023,10011,30025,0005,600104.700*$Im%al%%4&81449S28,000 $13,00026,40012,30025,0004,600$ 109,300 $ALInsertLprt scbackspacedeletehom Read the requirements.(...)Requirement 2. Based on the data presented, what type of responsibility center ithis subunit?What type of responsibility center is this unit?Requirement 3. Which items should be investigated if part of management's decision criteria is to investigate all variances exceeding $2,500 or 10% ? (If a box is not used in the table, leave the box empty.)4Requirement 4. Should only unfavorable variances be investigated?Favorable variancesbe investigated toActualFleResults Flexible Budget Var28,000 $25,90013,00013,80026,40012,300Data tableHarris-Subunit XDirect MaterialsDirect LaborIndirect Laborinsert23,10011,300prt sc

whenever there is expenses that has to be incord standard are set for such expenses. when the actual…

One subunit of Harris Sports Company had the following financial results last month: (Click the icon to view the financial results.) Read the requirements. Requirement 1. Complete the performance evaluation report for this subunit. Enter the variance percent as a percentage of the budgeted amount rounded to two places. (Enter a variance for positive number, and select whether the variance is favorable [F] or unfavorable [U]. For any zero varianc percentage rounded to two decimal places, X.XX%.) Data table Actual Flexible % Variance Flexible Budget Variance (F or U) Harris-Subunit X Results Budget (F or U) Actual % Flexible E Direct Materials Results Flexible Budget Variance (I Direct Labor % Harris-Subunit X Direct Materials 25,900 % Indirect Labor 13,800 Direct Labor Utilities Indirect Labor 23,100 D Depreciation. 11,300 Utilities Repairs and Maintenance. 25,000 Depreciation 5,600 Repairs and Maintenance Total 104.700 esc 2 S 28,000 $ 13,000 26,400 12,300 25,000 4.600 $ 109.300 S # 25,900 13,800 23,100 11,300 25,000 5,600 104,700 * $ IMI Ir % hl % % % 4 & 8 9 S 28,000 $ 13,000 26,400 12,300 25,000 4,600 $ 109,300 $ AAL + Insert L

One subunit of Harris Sports Company had the following financial results last month: (Click the icon to view the financial results.) Read the requirements. Requirement 1. Complete the performance evaluation report for this subunit. Enter the variance percent as a percentage of the budgeted amount rounded to two places. (Enter a variance for positive number, and select whether the variance is favorable [F] or unfavorable [U]. For any zero varianc percentage rounded to two decimal places, X.XX%.) Data table Actual Flexible % Variance Flexible Budget Variance (F or U) Harris-Subunit X Results Budget (F or U) Actual % Flexible E Direct Materials Results Flexible Budget Variance (I Direct Labor % Harris-Subunit X Direct Materials 25,900 % Indirect Labor 13,800 Direct Labor Utilities Indirect Labor 23,100 D Depreciation. 11,300 Utilities Repairs and Maintenance. 25,000 Depreciation 5,600 Repairs and Maintenance Total 104.700 esc 2 S 28,000 $ 13,000 26,400 12,300 25,000 4.600 $ 109.300 S # 25,900 13,800 23,100 11,300 25,000 5,600 104,700 * $ IMI Ir % hl % % % 4 & 8 9 S 28,000 $ 13,000 26,400 12,300 25,000 4,600 $ 109,300 $ AAL + Insert L

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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