All applicable Cases are available in Connect. Case Performance reporting The chair of the Science 15.27 Department of State University has a budget for laboratory Lo 3 supplies. Supplies have a variable cost behavior pattern that is a function of the number of students enrolled in laboratory courses. For planning purposes, when the budget was prepared in March 2019, it was estimated that 300 students would be enrolled in laboratory courses during the fall 2019 semester. Actual enrollment for the fall semester was 318 students. Required: a. Explain what action should be taken with respect to the supplies budget when the actual enrollment is known. b. Would your answer to part a be any different if the actual enrollment turned out to be 273 students? Explain your answer c. Suppose the budget item in question was the salary for the lab assistant. How would your answer to part a and part b change, if at all? Explain your answer. page 597 Case Flexible budgeting One of the significant costs for a 15,28 onpublic college or university is student aid in the form of gifts and grants awarded to students because of academic LO 3 potential or performance, and/or financial need. Gifts and grants are only a part of a financial aid package, usually accounting for no more than 20% of the total package. Federal and state grants, other scholarships, loans, and income from work constitute the rest of financial aid, but these funds are not provided by the institution, Assume that for the 2019-2020 academic year, Wonder College had a gift and grant budget of $900,000 and that all of these funds had been committed to students by May 15, 2019. The college had capacity to enroll up to 200 additional students. Required: Explain why and how flexible budgeting should be applied by the management of Wonder College in administering its gift and grant awards budget