One subunit of Contest Sports Manufacturing Company had the following financial results last month: (Click the icon to view the financial results.) Requirements 1. Complete the performance evaluation report for this subunit. 2. Based on the data presented, what type of responsibility center is the subunit? 3. Which items should be investigated if part of the management's decision criteria is to investigate all variances exceeding $3,200 or 12%? 4. Should only unfavorable variances be investigated? Explain. Requirement 1. Complete the performance evaluation report for this subunit. (Enter the variances as positive numbers. Round the variance percentages to the nearest hundredth percent, XXX%. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Variance Data table Product Actual Budgeted (U or F) Direct materials $ 21,480 $ 20,000 B D E Direct labor 16,660 17,500 1 Indirect labor 28,140 24,000 2 Contest Sports Manufacturing Company-Fishing Accessories Subunit Monthly Performance Report Utilities 10,940 10,000 3 For the Month Depreciation 21,800 21,800 Repairs and maintenance 4,195 5,000 4 Actual Budgeted Variance * Variance Percentage* $ 103,215 $ 98,300 5 Direct materials S 21,480 S 20,000 Total 6 Direct labor 16,660 17,500 7 Indirect labor 28,140 24,000 8 Utilities 9 Depreciation 10,940 10,000 21,800 21,800 10 Repairs and maintenance 4,195 5,000 $ 103,215 $ 98,300 11 Total "Be sure to indicate whether each variance is favorable (F) or unfavorable (U)