(a)Prepare a budget report which compares the revised budget to the original budget and the actual results to the revised budget.

(b)Comment briefly on the budget report

1 . 1. MCounty Council owns Littleton Park, a stately home and grounds, which it operates as the Museum of Country Life from the beginning of May to the end of September each year. The following budget was prepared for the previous year: Income (entry fees, refreshments, etc.) 500,000 Variable costs 100,000 Contribution 400,000 Fixed Costs 350,000 Profit 50 I000 Estimates were based on an average of 10,000 people admitted per month for each of the five months of the season. As a result of good weather, admissions were 10% above target for the rst two months. However, owing to a decline in the weather and some widely reported acts of vandalism, admissions fell to 10% below target for the last three months. Moreover, extra security staff had to be hired at a cost of 20,000. (This is a stepped fixed cost.) The actual figures for the season were: Income 430,000 Variable costs 93,100 Fixed costs 3?5,000 Required: (a) Prepare a budget report which compares the revised budget to the original budget and the actual results to the revised budget. (b) Comment briey on the budget report