Zhongfang Consumer Products has a small car division that operates as a profit center. Below is a partially completed performance report for the first quarter. Please complete the report in the format below.
Profit Center Performance Report $$\begin{array} { | l | r | r | r | r | r | l | }
\hline & & & \text { Flexible Budget } & & & \
\hline &{ \text { Actual } } & \text { Flexible Budget } & \text { Variance } & \text { U/F } & \text { \% variance } & \text { U/F } \
\hline \text { Sales Revenue } & \$ 688,000 & \$ 700,000 & & & & \
\hline \text { Variable expenses } & 309,000 & 320,000 & & & & \
\hline \text { Contribution margin } & 379,000 & 380,000 & & & & \
\hline \text { Traceable fixed expenses } & 371,000 & 368,000 & & & & \
\hline \text { Division margin } & \$ 8,000 & \$ 12,000 & & & & \
\hline
\end{array}$$

Question

Zhongfang Consumer Products has a small car division that operates as a profit center. Below is a partially completed performance report for the first quarter. Please complete the report in the format below.
Profit Center Performance Report $$\begin{array} { | l | r | r | r | r | r | l | } 
\hline & & & \text { Flexible Budget } & & & \
\hline &{ \text { Actual } } & \text { Flexible Budget } & \text { Variance } & \text { U/F } & \text { \% variance } & \text { U/F } \
\hline \text { Sales Revenue } & \$ 688,000 & \$ 700,000 & & & & \
\hline \text { Variable expenses } & 309,000 & 320,000 & & & & \
\hline \text { Contribution margin } & 379,000 & 380,000 & & & & \
\hline \text { Traceable fixed expenses } & 371,000 & 368,000 & & & & \
\hline \text { Division margin } & \$ 8,000 & \$ 12,000 & & & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Zhongfang Consumer Products has a small car division that operates as a profit center. Below is a partially completed performance report for the first quarter. Please complete the report in the format below.
Profit Center Performance Report $$\begin{array} { | l | r | r | r | r | r | l | } 
\hline & & & \text { Flexible Budget } & & & \
\hline &{ \text { Actual } } & \text { Flexible Budget } & \text { Variance } & \text { U/F } & \text { \% variance } & \text { U/F } \
\hline \text { Sales Revenue } & \$ 688,000 & \$ 700,000 & & & & \
\hline \text { Variable expenses } & 309,000 & 320,000 & & & & \
\hline \text { Contribution margin } & 379,000 & 380,000 & & & & \
\hline \text { Traceable fixed expenses } & 371,000 & 368,000 & & & & \
\hline \text { Division margin } & \$ 8,000 & \$ 12,000 & & & & \
\hline
\end{array}$$

Zhongfang Consumer Products Has a Small Car Division That Operates