One subunit of Racer 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 $3,000 or 10%? 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, X.XX%. 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 Product (U or F) Direct materials Actual Budgeted S 21.500 S 20,000 14,250 15,000 29,250 25,000 Direct labor Indirect labor Utilities 10,950 Depreciation 25,000 4,200 10,000 25,000 5,000 Repairs and maintenance S 105,150 S 100,000 Total B C D E 1 1 2 3 Racer Sports Manufacturing Company-Toning and Accessories Subunit Monthly Performance Report For the Month Variance Actual Budgeted Variance * Percentage * 4. 5 Direct materials $ 21,500 $ 20,000 6 Direct labor 14,250 15,000 7 Indirect labor 29,250 25,000 8 Utilities 10,950 10,000 9 Depreciation 25,000 25,000 10 Repairs and maintenance 4,200 5,000 11 Total $ 105,150 $ 100,000 *Be sure to indicate whether each variance is favorable (F) or unfavorable (U)