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 $3,100 or 13%? 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 hundredith 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.) U Variance Variance Percentage (U or F Product (U or F) Direct materials % % Direct labor Indirect labor Utilities Actual Budgeted $ 12,930 S 12,000 13,265 14.000 23,380 20,000 16,455 15,000 30,250 30,250 4,205 5,000 % % % Depreciation % Repairs and maintenance % Total 96,250 $ 100,485 S % Requirement 2. Based on the data presented, what type of responsibility center is the subunit? This subunit is an) V Requirement 2. Based on the data presented, what type of responsibility center is the subunit? This subunit is a(n) Requirement 3. Which items should be investigated if part of management's decision criteria is to investigate all variances exceeding $3,100 or 13%? (If an input field is not used in the table, leave the input field empty; do not select a label.) Requirement 4. Should only unfavorable variances be investigated? Explain. favorable variances o - X Data table A B C D E 1 2 Racer Sports Manufacturing CompanyToning and Accessories Subunit Monthly Performance Report For the Month Variance Actual Budgeted Variance * Percentage * 3 4. 5 Direct materials $ 12,930 $ 12,000 6 Direct labor 13,265 14,000 7 Indirect labor 23,380 20,000 8 Utilities 16,455 15,000 9 Depreciation 30,250 30,250 10 Repairs and maintenance 4,205 5,000 11 Total $ 100,485 $ 96,250 *Be sure to indicate whether each variance is favorable (F) or unfavorable (U)