X More info Actual income statements Winnipeg Manitoba Companywide $ 148,600 $ 1,644,000 4,100,000 Revenue Expenses: Region manager/headquarters office S - $ 58,000 $ 118,000 Cost of materials 81,500 871,500 1,806,000 Salary expense 38,500 415,100 1, 121,000 Depreciation expense 7,200 92,000 434,000 Utilities expense 4,500 46,400 264,000 2,600 34,900 178,000 Rent expense Total expenses 134,300 1,517,900 3,921,000 $ 14,300 $ 126, 100 S 179,000 Operating income Print DonePet World operates a chain of pet stores in the Prairies. The manager of each store reports to the regional manager, who, in turn, reports to headquarters in Regina. The actual income statements Question list K for the Winnipeg store, the Manitoba region (including the Winnipeg store), and the company as a whole (including the Manitoba region) for July are as follows: i (Click the icon to view the actual income statements.) i (Click the icon to view the budgeted income statements.) Requirements 1. Prepare a report for July that shows the performance of the Winnipeg store, the Manitoba region, and the company as a whole. O Question 5 2. As the Manitoba region manager, would you investigate the Winnipeg store on the basis of this report? Why or why not? 3. Briefly discuss the benefits of budgeting. Base your discussion on Pet World's performance report. O Question 6 Requirement 1. Prepare a report that shows the performance of the Winnipeg store, the Manitoba region and the company as a whole. We will begin with the company as a whole. (Use parentheses or a minus sign when entering the headquarters' expense and any unfavourable variances.) O Question 7 Pet World Responsibility Accounting Performance Report O Question 8 July Companywide Variance O Question 9 Operating Income of Regions and Favourable Headquarters' Office Expense Actual Budget (Unfavourable) Headquarters' office expense O Question 10 Manitoba Stores in other regions O Question 11 Operating incomePet World operates a chain of pet stores in the Prairies. The manager of each store reports to the regional manager, who, in turn, reports to headquarters in Regina. The actual income statements Question list K Salary expense O Question 5 Depreciation expense Utilities expense Rent expense O Question 6 Total expenses Operating income O Question 7 Requirement 2. As the Manitoba region manager, would you investigate the Winnipeg store on the basis of this report? Why or why not? (Enter all amounts as positive. Round percentages to two decimal places, X.XX%.) O Question 8 As region manager of the Manitoba region, you investigate the Winnipeg office on the basis of this report. Its operating income variance of $ , which is V. is % of its budgeted income. This difference is investigating. The company afford to keep operating marginally profitable stores. O Question 9 Requirement 3. Briefly discuss the benefits of budgeting. Base your discussion on Pet World's performance report. Budgeting plan. The various levels of Pet World's management their operations to develop the detailed budgets in the performance report. O Question 10 Budgeting coordination and communication. The budgets of the performance report communicate from the company headquarters to region managers, and from region managers to store managers and their staff. Budgets also help managers activities across the company's operations. O Question 11 Budgeting helps managers evaluate The budget versus actual comparisons in the report are better indicators of than current period actual amounts versus pastNow prepare the report that shows the performance of the Manitoba region. (Use parentheses or a minus sign when entering the region manager's expense and any unfavourable variances.) O Question 5 Manitoba Variance Operating Income of Stores and Favourable Question 6 Region Manager's Office Expense Actual Budget (Unfavourable) Region manager's office expense O Question 7 Winnipeg Other Manitoba stores Operating income O Question 8 Finally, show the performance of the Winnipeg store. (For variances with a zero balance, make sure to enter "0" in the appropriate cell. Use parentheses or a minus sign when entering any unfavourable variances.) O Question 9 Winnipeg Variance Favourable Revenues and Expenses: Actual Budget (Unfavourable) O Question 10 Revenue Expenses: Question 11 Cost of materialsMore info Budgeted amounts for July were as follows: Winnipeg Manitoba Companywide $ 162,600 $ 1,768,000 $ 4,350,000 Revenue Expenses: Region manager/headquarters office $ - $ 63,600 $ 120,000 Cost of materials 86,700 963,600 1,974,000 Salary expense 38,700 442,500 1,091,000 Depreciation expense 7,200 87,600 446,000 Utilities expense 4,800 54,800 275,000 4,000 32,500 174,000 Rent expense 141,400 1,644,600 4,080,000 Total expenses $ 21,200 $ 123,400 $ 270,000 Operating income Print Done