One subunit of Speed Sports Company had the following financial results last month: E (Click the icon to view the financial results.) Read the requirements Requirement 1. Complete the performance evaluation report for this subunit (round to three decimal places). (Enter a variance for each account and select whether the variance is unfavorable (U) or favorable (F). Enter the results as positiv numbers. Enter the variance percents as a percentage to three decimal places, "XX.XXX%".) Speed Sports Company-Team Sports Subunit Monthly Performance Report For the Month Variance Product Actual Budgeted Variance Percentage Sales $ 430,400 $ 400,000 30400 F F Less: Variable expenses 286,000 275,000 11000 F 4 % F Contribution margin $ 144,400 $ 19400 F F Less: Direct fixed expenses 26,050 25,000 1050 F F Segment margin $ 118,350 $ 100,000 18350 F F Less: Common fixed expenses 61,000 50,000 11000 F 22 % F $ 57,350 $ Operating income 50,000 7350 F F 7.6 % 115,000 15.52 % 4.2 % 18.35 % 14.7 % V Requirement 2. Based on the data presented, what type of responsibility center is this subunit? Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 2. Based on the data presented, what type of responserter is this subunit? This performance report includes both revenue and cost data, therefore this subunit must be a profitcenter Requirement 3. Which items should be investigated part of management's decision for is to investigate al vices qual to or exceeding $11,000 and exceeding 10% bom ter must be met of a box is not used in the latesave the box emply do not select a label) Requirement 4. Should only unfavorable variances te investigated? Explain Managers should investigate Favorable variances Management needs to evaluate to determine the root cause of the variance Requirements. Is it possible that the variances are due to a higher than expected sales volume? Explan The flexible budget variances to sales volume differences between budget and actual. Differences in sales volume mecatured by the due to Choose from any list or enter any number in the input fields and then continue to the next question. The fexible budget variance is Requirement 5. Is it possible that the variances are due to a higher than expected sales volume? Explain The flexible budget variances due to sales volume differences between budget and actual. Differences in sales volume are captured by the The exible budget variances due to Requirement 6. Do you think management will place equal weight on each of the $11.000 variances? Explain Management will because Additionally, they may not place much weighton Requirement 7. Which balanced scorecard perspective is being addressed through this performance report in your opinion, is this performance report a lead or lag indicator? Explain The performance report addresses the perspective of the balanced Scorecard performance measures tend to be indicators. They typically Requirement 8. Give one key performance Indicator for the other three balanced Scorecard perspectives. Indicate which perspective is being addressed by the indicators you lat. Are they read or lag indicators? Explain Complete the following table to identify one key performance Indicator for the three other balanced Scorecard perspectives Balanced Scorecard perspective Key performance Indicator Choose from any list or enter any number in the input fields and then continue to the next question Requirement 7. Which balanced scorecard perspective is being addressed through this performance report? In your opinion, is this performance report a load or lag indicator? Explain The performance report addresses the perspective of the balanced Scorecard performance measures tend to be indicators. They typically Requirement 8. Give one key performance indicator for the other three balanced scorecard perspectives. Indicato which perspective is being addressed by the indicators you list. Are they lead orlag indicators? Explain Complete the following table to identify one key performance indicator for the three other balanced Scorecard perspectives Balanced Scorecard perspective Key performance Indicator Are they lead or lag indicators? Explain The performance indicators listed above are often better indicator which tend to Each of these performance measures is a Choose from any list or enter any number in the input fields and then continue to the next