7 One subunit of Racer 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 percentagerounded to two decimal places, XX.XX%.)ActualFlexibleFlexible BudgetData TableSubunit XResultsBudgetVariance (F or U)Net Sales Revenue$ 476,000 $451,000261,000251,000Flexible Budget % Variance (FVariance (F or U)Variable ExpensesSubunit XActual ResultsFlexible Budgetor U)Contribution Margin$215,000 $200,000Net Sales Revenue$476,000 $451,000Traceable Fixed Expenses40,00026,000261,000251,000Variable Expenses$ 175,000 $174.000Divisional Segment MarginContribution Margin215,000200,00040,00026,000Traceable Fixed Expenses$175,000 $174,000Divisional Segment Margin

Performance Evaluation Report of the business shows variance or difference between budgeted values…

One subunit of Racer 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%.) Actual Flexible Flexible Budget - X Data Table Subunit X Results Budget Variance (F or U) $ 476,000 $ 451,000 Net Sales Revenue Flexible Budget % Variance (F Variance (F or U) Variable Expenses 261,000 251,000 Subunit X Actual Results Flexible Budget or U) Contribution Margin $ 215,000 $ 200,000 Net Sales Revenue $ 476,000 $ 451,000 40,000 26,000 Traceable Fixed Expenses 261,000 251,000 Variable Expenses $ 175,000 $ 174,000 Divisional Segment Margin Contribution Margin 215,000 200,000 40,000 26,000 Traceable Fixed Expenses 24 175,000 $ 174,000 Divisional Segment Margin

One subunit of Racer 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%.) Actual Flexible Flexible Budget - X Data Table Subunit X Results Budget Variance (F or U) $ 476,000 $ 451,000 Net Sales Revenue Flexible Budget % Variance (F Variance (F or U) Variable Expenses 261,000 251,000 Subunit X Actual Results Flexible Budget or U) Contribution Margin $ 215,000 $ 200,000 Net Sales Revenue $ 476,000 $ 451,000 40,000 26,000 Traceable Fixed Expenses 261,000 251,000 Variable Expenses $ 175,000 $ 174,000 Divisional Segment Margin Contribution Margin 215,000 200,000 40,000 26,000 Traceable Fixed Expenses 24 175,000 $ 174,000 Divisional Segment Margin

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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