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Clifford Industries has gathered the following information about the actual sales revenues and expenses for its pharmaceuticals segment for the most recent year.

Budgeted data for the same time period for the pharmaceutical segment are as follows (all data are in millions):

Prepare a segment margin performance report for the pharmaceutical segment. Calculate a variance and a variance percentage for each line 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%).

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 variances as positive numbers. Round the variance percentages to the nearest hundredth percent, X.XX%.)

Performance Report
Clifford - Pharmaceutical Segment
For Fiscal Year Ending December 31
	Actual	Bugeted	Variance		Variance %
Sales						%
Less Variable Expenses:
Variable Cost of Goods Sold						%
Variable Operating Expenses						%
Contribution Margin						%

Actual Sales-

Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$1,266,720

Variable Cost of Goods Sold. . . . . . . . . . . . .

$100,100

Variable Operating Expenses. . . . . . . . . . . .

$132,405

Direct Fixed Manufacturing Overhead. . . . .

$106,090

Direct Fixed Operating Expenses. . . . . . . . .

$31,500

Common Fixed Expenses. . . . . . . . . . . . . . .

$23,230

Budgeted Sales-

Budgeted sales in units. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9,100

Budgeted average selling price per unit. . . . . . . . . . . . . . . . . . . . . .

$120

Variable Cost of Goods Sold per unit. . . . . . . . . . . . . . . . . . . . . . . . . . . .

$10

Variable Operating Expenses per unit. . . . . . . . . . . . . . . . . . . . . . . .

$15

Direct Fixed Manufacturing Overhead (in total). . . . . . . . . . . . . . . . . . .

$103,000

Direct Fixed Operating Expenses (in total). . . . . . . . . . . . . . . . . . . . . . .

$30,000

Common Fixed Expenses Allocated to the Pharmaceutical Segment

$23,000

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