CASE STUDY SITUATION You are to assume the role of management accountant at THE SHOWDOWN INSURANCE COMPANY, an insurance company that specializes in automobile insurance. The assistant controller has asked you to put together a managerial report outlining the responsibility center's various budgets. You have been asked by the assistant controller to also present a short discussion on THE SHOWDOWN INSURANCE COMPANY'S long-term financial plans using accounting performance measures Helw is a profit & loss summary of the prior month: Total Region III Central 3.131.133 Region IV Westem 1.117.886 11,066,486 2.507 503 SO8.099 7.471.67% 193357 75,012 633,441 The Showdown Insurance Company Region 1 Region 11 Mid-Atlantic Southern Premiums 4.617,968 2.179.499 Earned Losses 2.905.266 1.250.810 Loss Adjustment 256.079 128.993 Expense General Expenses - 53.173 413,746 Direct General Expenses Overhead Operating income 583.950 403 308 265.6.30 1.940.057 44.765 (30.853) 1.001,310 The assistant controller ako provided you with the total expenses related to corporate casts, not directly affiliated with a specific regional profit center. That total is 501.625. YOUR CHALLENGE With this information, you can now allocate the corporate costs to each of the four regions. Once you have calculated the overhead expenses per region, re-calculate the Operating Income and