Caxton Industries has gathered the following information about the actual sales

Question

Caxton Industries has gathered the following information about the actual sales Prepare a segment margin performance report for the pharmaceutical segment. revenues and expenses for its pharmaceuticals segment for the most recent year. Calculate a variance and a variance percentage (Click the icon to view the actual data.) 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%). Budgeted data for the same time period for the pharmaceutical segment are as Data Table 1 Data Table Sales $ 1,483,500 92,020 S 13209 Variable Operating Expenses. Direct Fixed Manufacturing Overhead.... Direct Fixed Operating Expenses . … … $ Common Fixed Expenses Budgeted sales in units Budgeted average selling price per unit....s 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 25,000 8,600 150 10 $ 16 112,350 28,080 25,500 S $ 26,000 Print Done Print Done

Explanation / Answer

Performance Report Caxton-Pharmaceutical Segment For Fiscal Year Ending December 31 Actual Budgeted Variance Variance % Sales 1483500 1290000 193500 F 15.00 % Less Variable Expenses: Variable cost of goods sold 92020 86000 6020 U 7.00 % Variable operating expenses 132096 137600 5504 F 4.00 % Contribution margin 1259384 1066400 192984 F 18.10 % Less Direct Fixed Expenses: Fixed manufacturing overhead 112350 107000 5350 U 5.00 % Fixed operating expenses 28080 26000 2080 U 8.00 % Segment margin 1118954 933400 185554 F 19.88 % Less Common Fixed Expenses allocated to the profit center: 25500 25000 500 U 2.00 % Operating income 1093454 908400 185054 F 20.37 %

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