Question

Campbell Industries has gathered the following information about the actual sales revenues and expenses for its pharmaceuticals segment for the most recent year. Prepare a segment margin performance report for the pharmaceutical segment. Calculate a variance and a variance peroentage 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 % ) . (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) (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, XXx %.) Performance Report iData Table i Data Table Campbell Pharmaceutical S For Fiscal Year Ending Decen Actual Bug Budgeted sales in units 9,000 Sales S 756,000 Sales Variable Cost of Goods Sold Budgeted average selling price per unit 80 S 236,340 Less Variable Expenses: Variable Operating Expenses Variable Cost of Goods Sold per unit S 155.520 26 . Varlable Cost of Goods Sold Direct Fixed Manufacturing Overhead S 115,500 Variable Operating Expenses per unit 18 Variable Operating Expenses Direct Fixed Operating Expenses S 22,440 Direct Fixed Manufacturing Ovemead (in total) 105,000 Contribution Margin Direct Fixed Operating Expenses (in total) 22,000 Common Fixed Expenses S S 25,500 Common Fixed Expenses Allocated to the Pharmaceutical Segment 25,000 Print Done Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ?

and this is what needs to be filled up

***disregard the numbers in the second picture as the pic is just to show what the table looks like...and what needs to be answered

Answer 1

Actual figures have been taken from the information given and budgeted figures have been calculated using the information given.  

Variance = Actual Amount - Budgeted Amount

Variance % = Variance / Budgeted Amount * 100

Performance Report
Campbell - Pharmaceutical segment
For the fiscal year ended December 31
Particulars	Actual	Budgeted	Variance (Actual - Budget)		Variance %	Working
Sales	$756,000.00	$720,000.00 (9000*$80)	$36,000.00	F	5.00%	36000/720,000
Less: Variable expenses:
Variable cost of goods sold	$236,340.00	$234,000.00 (9000*$26)	$2,340.00	U	1.00%	=2340/234000
Variable operating expenses	$155,520.00	$162,000.00 (9000*$18)	$6,480.00	F	4.00%	=6480/162000
Contribution Margin	$364,140.00	$324,000.00	$40,140.00	F	12.39%	=40140/324000
Less: Direct fixed expenses:
Fixed manufacturing overhead	$115,500.00	$105,000.00	$10,500.00	U	10.00%	=10500/105000
Fixed operating expenses	$22,440.00	$22,000.00	$440.00	U	2.00%	=440/22000
Segment Margin	$226,200.00	$197,000.00	$29,200.00	F	14.82%	=29200/197000
Less: Common fixed expenses allocated to the profit center	$25,500.00	$25,000.00	$500.00	U	2.00%	=500/25000
Operating Income	$200,700.00	$172,000.00	$28,700.00	F	16.69%	=28700/172000