Assignment: Chapter 10 Homework 11. Clifford Industries has gathered the following information about the actual sales revenues and expenses for its pharmaceuticals segment for the most recent year. (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): 4 Click the icon to view the budgeted data.) 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%). 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 Less Direct Fixed Expenses: Fixed Manufacturing Overhead HHH HH HHHHHHHH 1 Fixed Operating Expenses Segment Margin Less Common Fixed Expenses allocated to the profit center: Operating Income 1: Data Table Sales .............................. S 1,535,250 Variable Cost of Goods Sold............$ 183,340 Variable Operating Expenses .......... S 176,220 Direct Fixed Manufacturing Overhead ....S 99,360 Direct Fixed Operating Expenses ........S 31,200 Common Fixed Expenses ............S 16,500 2: Data Table Budgeted sales in units....... . 8.900 150 20 22 92,000 30,000 15,000 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....$ . (1) (2) (3) (4) 6 (7) (9) OF ou OF ou OF ou (5) OFF OF ou ou OF ou OF ou (8) OF ou OF ou