Question

8 of 12 (3 complete) HW Score: 16%, 4 of 25 pts Score: 0 of 4 pts E10-19A (similar to) A Question Help Prepare a segment margin performance report for the pharmaceutical segment. Calculate a variance and a variance percentage for each line in the report. Round to the nearest hundredth for the variance percentages (for example, if your answer is 16.2384%, round it to 16.24%). Clifford Industries has gathered the following information about the actual sales revenues and expenses for its pharmaceuticals segment for the most recent year. E: (Click the icon to view the actual data.) Budgeted data for the same time period for the pharmaceutical segment are as follows (all data is in millions): E: (Click the icon to view the budgeted data.) Begin by preparing the performance report through the contribution margin line. Next, complete the report through the segment margin line, and then, finally, complete the report through the operating income line. (Enter the variances as positive numbers. Round the variance percentages to the nearest hundredth percent, X.XX%.) Performance Report Clifford - Pharmaceutical Segment For Fiscal Year Ending December 31 Actual Bugeted Variance Variance % Sales Less Variable Expenses: Variable Cost of Goods Sold Variable Operating Expenses Contribution Margin i Data Table 9,200 Data Table 30 Budgeted sales in units Budgeted average selling price per unit . Variable Cost of Goods Sold per unit 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 ... $ Sales ...........................$ Variable Cost of Goods Sold .......... $ Variable Operating Expenses ..........$ Direct Fixed Manufacturing Overhead .... $ Direct Fixed Operating Expenses .......$ Common Fixed Expenses ...........$ 1,449,000 278,760 186,208 107,120 26,400 15,300 Choose from any list or enter any 103,000 24,000 15,000 2 parts remaining Print Done

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Answer 1

PERFORMANCE REPORT
CLLIFORD- PHARMACEUTICAL SEGMENT
FOR FISCAL YEAR ENDING DECEMBER 31
	ACTUAL	BUDGETED	VARIANCE	VARIANCE %
SALES	$ 1,449,000	$   1,380,000	$     (69,000)	-5%
LESS: VARIABLE EXPENSES
VARIABLE COST OF GOODS SOLD	$     278,760	$      276,000	$        (2,760)	-1%
VARIABLE OPERATING EXPENSES	$     186,208	$      202,400	$        16,192	8%
			$                 -
CONTRIBUTION MARGIN	$     984,032	$      901,600	$     (82,432)	-9%

SHOW FORMULA IN EXCEL:

PERFORMANCE REPORT
CLLIFORD- PHARMACEUTICAL SEGMENT
FOR FISCAL YEAR ENDING DECEMBER 31
	ACTUAL	BUDGETED	VARIANCE	VARIANCE %
SALES	1449000	=9200*150	=+C5-B5	=+D5/C5
LESS: VARIABLE EXPENSES
VARIABLE COST OF GOODS SOLD	278760	=30*9200	=+C7-B7	=+D7/C7
VARIABLE OPERATING EXPENSES	186208	=9200*22	=+C8-B8	=+D8/C8
			=+C9-B9
CONTRIBUTION MARGIN	=B5-B7-B8	=C5-C7-C8	=+C10-B10	=+D10/C10