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Author Question: The financial results for one of the subunits of Factory Six Racing is presented in the partially ... (Read 22 times)

TVarnum

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The financial results for one of the subunits of Factory Six Racing is presented in the partially completed performance evaluation report below.




Subunit - CobraST



Actual


Flexible
Budget
Flexible
Budget
Variance
(U or F)

Percentage*
Variance
(U or F)
Sales$243,000$225,000
Cost of goods sold  130,000  125,000
Gross margin$113,000$100,000
Operating expenses   26,000    25,000
Operating income before service department charges$87,000$75,000
Service department charges (allocated)   17,500   12,500
Operating income$69,500$62,500

* Flexible budget variance/Flexible budget

Required:
1.Complete the performance report rounding to three decimal places.
2.Based on the data presented, what type of responsibility centre is this subunit?
3.Which items should be investigated if part of management's decision criteria is to investigate all
variances equal to or exceeding $5,000 and exceeding 10% ( both criteria must be met)?


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Marked as best answer by TVarnum on Jan 5, 2020

iman

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TVarnum

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Reply 2 on: Jan 5, 2020
YES! Correct, THANKS for helping me on my review


brbarasa

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Reply 3 on: Yesterday
:D TYSM

 

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