P23-6B Home-Aid is a charitable organization, recently established in the Midwest, that builds low-income housing. The manager of each city's Home-Aid office reports to the state's director, who in turn reports to headquarters in Milwaukee, Wisconsin. The actual income statements for the Cincinnati office, the Ohio region (including the Cincinnati office) and the organization as a whole (including the Ohio region) for July 20X3 are Revenue Expenses: Cincinnati Ohio $148.900 $1,647,000 Organizationwide $4,200,000 State director/ headquarters office. $ 60,000 $ 116,000 Cost of materials 81,100) 871.900 Salary expense 38,100 415,500 1,807,000 1.119,000 Depreciation expense. 7.200 91,000 435,000 Utilities expense. 4.200 46,200 260,000 Rent expense 2,400 Total expenses. 133,000 34,700 1.519,300 178.000 3,915,000 Operating income. $ 15,900 $ 127,700 $ 285.000 Budgeted amounts for July were as follows: Revenue Expenses: State director/ headquarters office. Cost of materials. Salary expense. Depreciation expense. Utilities expense. Rent expense Total expenses Operating income. Cincinnati Ohio Organizationwide $162,400 $1,769,700 $4.450.000 $ - $ 65,600 85,500 38,800 963,400 442,000 $ 118.000 1.972.000 1.095.000 7.200 87,800 449.000 4,700 54.400 271,000 2,800 32,300 174,000 139,000 1,645,500 4.079,000 $ 23,400 $ 124,200 $ 371.000 Required 1. Prepare a report for July 20X3 that shows the performance of the Cincinnati office, the Ohio region, and the organization as a whole. Follow the format of Exhibit 23-18. 2. As the director of the Ohio region manager, would you investigate the Cincinnati office on the basis of this report? Why or why not? 3. Briefly discuss the benefits of budgeting. Base your discussion on Home-Aid's perfor- mance report.