Prepare a segment margin performance report for the pharmaceutical segment. Calculate a variance and a variance percentage for each hline 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%). Clayton 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 are in millions): (Click the icon to view the budgeted data.) % 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 variance as positive numbers. Round the variance percentages to the nearest hundredth percent, X.XX%.) Performance Report - X Data Table Clayton - Pharmaceutical Segment For Fiscal Year Ending December 31 Actual Bugeted Variance Variance % Sales S 707.550 S 707,550 S 667,500 $ 40,050 F 6 Sales S Variable Cost of Goods Sold S 254,540 % S Variable Operating Expenses Less Variable Expenses: 169,100 254,540 Variable Cost of Goods Sold 231,400 S 101.970 23,140 U Direct Fixed Manufacturing Overhead 10 % 169,100 178,000 8,900 Direct Fixed Operating Expenses ......... S 5 23,540 F Variable Operating Expenses 17,440 283,910 Common Fixed Expenses ............... S 258, 100 Contribution Margin 10 % Less Direct Fixed Expenses: - X Fixed Manufacturing Overhead 101,970 Data Table 99,000 2,970 U 3 % 23,540 22,000 Fixed Operating Expenses 1,540 7 158,400 137.100 Segment Margin 15.54 % Budgeted sales in units 8,900 Less Common Fixed Expenses Budgeted average selling price per unit $ 75 26 allocated to the profit center: % Variable Cost of Goods Sold per unit. Variable Operating Expenses per unit.. $ 20 Operating Income Direct Fixed Manufacturing Overhead (in total) $ 99,000 Direct Fixed Operating Expenses (in total)....... $ 22.000 Common Fixed Expenses Allocated to the Pharmaceutical Segment $ 16.000 25,810 F % 21,300 F