Performance Report Drizzdale Industries - Pharmaceutical Segment For the Fiscal Year Ended December 31 866,320 143,325 Sales $ (all figures in millions of dollars) Actual Variable Cost of Goods Sold $ Variable Operating Expenses Direct Fixed Manufacturing Overhead Direct Fixed Operating Expenses Common Fixed Expenses Budgeted Variance F/U Variance % F/U 162,162 96,300 17,280 14,140 Budgeted data for the same time period for the pharmaceutical segment are as foliows (all data are in millions): Budgeted sales in units Budgeted average selling price per unit Variable Cost of Goods Sold per unit 9,100 85 15 Variable Operating Expenses per unit Direct Fixed Manufacturing Overhead (in total) Direct Fixed Operating Expenses (in total) 18 Operating income (loss) 90,000 16,000 Common Fixed Expenses Allocated to the Pharmaceutical Segment 14,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
100%
Performance Report
Drizzdale Industries - Pharmaceutical Segment
For the Fiscal Year Ended December 31
Sales
866,320
Variable Cost of Goods Sold
(all figures in millions of dollars)
Actual
143,325
Variable Operating Expenses
Direct Fixed Manufacturing Overhead
Direct Fixed Operating Expenses
Common Fixed Expenses
Budgeted Variance F/U Variance % F/U
162,162
96,300
$
17,280
14,140
Budgeted data for the same time period for the pharmaceutical segment are as follows (all
data are in millions):
Budgeted sales in units
Budgeted average selling price per unit
Variable Cost of Goods Sold per unit
9,100
85
15
Variable Operating Expenses per unit
Direct Fixed Manufacturing Overhead (in total)
Direct Fixed Operating Expenses (in total)
Common Fixed Expenses Allocated to the
Pharmaceutical Segment
18
Operating income (loss)
2$
90,000
16,000
2$
14,000
Transcribed Image Text:Performance Report Drizzdale Industries - Pharmaceutical Segment For the Fiscal Year Ended December 31 Sales 866,320 Variable Cost of Goods Sold (all figures in millions of dollars) Actual 143,325 Variable Operating Expenses Direct Fixed Manufacturing Overhead Direct Fixed Operating Expenses Common Fixed Expenses Budgeted Variance F/U Variance % F/U 162,162 96,300 $ 17,280 14,140 Budgeted data for the same time period for the pharmaceutical segment are as follows (all data are in millions): Budgeted sales in units Budgeted average selling price per unit Variable Cost of Goods Sold per unit 9,100 85 15 Variable Operating Expenses per unit Direct Fixed Manufacturing Overhead (in total) Direct Fixed Operating Expenses (in total) Common Fixed Expenses Allocated to the Pharmaceutical Segment 18 Operating income (loss) 2$ 90,000 16,000 2$ 14,000
Requirements
Prepare a segment margin performance report for the pharmaceutical segment. In this report, be sure to include
lines for the contribution margin, the segment margin, and operating income. Calculate a variance and a variance
percentage for each line in the report.
a.
Check your spelling carefully and do not abbreviate.
b.
Follow the format shown in Exhibit 10-4.
C.
Use the ABS function when calculating variances, and use the drop-down selections for F (favorable) or U (unfavorable) when describing the variances.
Transcribed Image Text:Requirements Prepare a segment margin performance report for the pharmaceutical segment. In this report, be sure to include lines for the contribution margin, the segment margin, and operating income. Calculate a variance and a variance percentage for each line in the report. a. Check your spelling carefully and do not abbreviate. b. Follow the format shown in Exhibit 10-4. C. Use the ABS function when calculating variances, and use the drop-down selections for F (favorable) or U (unfavorable) when describing the variances.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education