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One subunit of Hazelton Sports Manufacturing Company had the following financial results last month (Click the icon to view the financial results.) Requirements 1. Complete the performance evaluation report for this subunit 2. Based on the data presented, what type of responsibility center is the subunit? 3. Which items should be investigated if part of the management's decision criteria is to investigate all variances exceeding $3,400 or 11.5% 7 4. Should only unfavorable variances be investigated? Explain. Requirement 1. Complete the performance evaluation report for this subunit. (Enter the variances as positive numbers. Round the variance percentages to the nearest hundredth percent, XXXX% Label each variance as favorable (F) or unfavorable (U). If the variance is 0. make sure to enter in a "0". A variance of zero is considered favorable) Direct materials Direct labor Indirect labor- Utilities Product Depreciation Repairs and maintenance Total Actual $ 21.500 $ 14,250 20.250 10,950 25.000 4,200 S 105,150 $ Budgeted 20,000 15,000 25,000 10.000 COTC 25,000 6,000 100,000 Variance (U or F)

One subunit of Hazelton Sports Manufacturing Company had the following financial results last month (Click the icon to view the financial results.) Requirements 1. Complete the performance evaluation report for this subunit 2. Based on the data presented, what type of responsibility center is the subunit? 3. Which items should be investigated if part of the management's decision criteria is to investigate all variances exceeding $3,400 or 11.5% 7 4. Should only unfavorable variances be investigated? Explain. Requirement 1. Complete the performance evaluation report for this subunit. (Enter the variances as positive numbers. Round the variance percentages to the nearest hundredth percent, XXXX% Label each variance as favorable (F) or unfavorable (U). If the variance is 0. make sure to enter in a "0". A variance of zero is considered favorable) Direct materials Direct labor Indirect labor- Utilities Product Depreciation Repairs and maintenance Total Actual $ 21.500 $ 14,250 20.250 10,950 25.000 4,200 S 105,150 $ Budgeted 20,000 15,000 25,000 10.000 COTC 25,000 6,000 100,000 Variance (U or F)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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One subunit of Hazelton Sports Manufacturing Company had the following financial results last month: (Click the icon to view the financial results.) Requirements 1. Complete the performance evaluation report for this subunit 2. Based on the data presented, what type of responsibility center is the subunit? 3. Which items should be investigated if part of the management's decision criteria is to investigate all variances exceeding $3,400 or 11.5% 7 4. Should only unfavorable variances be investigated? Explain. Requirement 1. Complete the performance evaluation report for this subunit. (Enter the variances as positive numbers. Round the variance percentages to the nearest hundredth percent, XXX% Label each variance as favorable (F) or unfavorable (U). If the variance is 0. make sure to enter in a "0". A variance of zero is considered favorable) Direct materials Direct labor Product Indirect labor. Utilities Depreciation Repairs and maintenance Total Actual Budgeted 20,000 15,000 25,000 10.000 25,000 5,000 100,000 S 21,500 $ 14,250 29.250 10,950 COT 25,000 4,200 105,150 $ Variance (U or F)
Transcribed Image Text:One subunit of Hazelton Sports Manufacturing Company had the following financial results last month: (Click the icon to view the financial results.) Requirements 1. Complete the performance evaluation report for this subunit 2. Based on the data presented, what type of responsibility center is the subunit? 3. Which items should be investigated if part of the management's decision criteria is to investigate all variances exceeding $3,400 or 11.5% 7 4. Should only unfavorable variances be investigated? Explain. Requirement 1. Complete the performance evaluation report for this subunit. (Enter the variances as positive numbers. Round the variance percentages to the nearest hundredth percent, XXX% Label each variance as favorable (F) or unfavorable (U). If the variance is 0. make sure to enter in a "0". A variance of zero is considered favorable) Direct materials Direct labor Product Indirect labor. Utilities Depreciation Repairs and maintenance Total Actual Budgeted 20,000 15,000 25,000 10.000 25,000 5,000 100,000 S 21,500 $ 14,250 29.250 10,950 COT 25,000 4,200 105,150 $ Variance (U or F)
ria - or on and Data table 1 2 3 B A Hazelton Sports Manufacturing Company-Hiking Accessories Subunit Monthly Performance Report For the Month $ 4 Actual Budgeted Variance * 5 Direct materials 21,500 $ 20,000 6 Direct labor 14,250 15,000 7 Indirect labor 29,250 25,000 8 Utilities 10,950 10,000 9 Depreciation 25,000 25,000 4,200 5,000 10 Repairs and maintenance $ 105,150 $ 100,000 11 Total "Be sure to indicate whether each variance is favorable (F) or unfavorable (U). Print E Done Variance. Percentage = X
Transcribed Image Text:ria - or on and Data table 1 2 3 B A Hazelton Sports Manufacturing Company-Hiking Accessories Subunit Monthly Performance Report For the Month $ 4 Actual Budgeted Variance * 5 Direct materials 21,500 $ 20,000 6 Direct labor 14,250 15,000 7 Indirect labor 29,250 25,000 8 Utilities 10,950 10,000 9 Depreciation 25,000 25,000 4,200 5,000 10 Repairs and maintenance $ 105,150 $ 100,000 11 Total "Be sure to indicate whether each variance is favorable (F) or unfavorable (U). Print E Done Variance. Percentage = X
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