Cassablanca Transportation Company's general manager reports quarterly to the Although the general manager was upset about not obtaining enough revenue, she company president on the firm's operating performance. The company uses a budget based on detailed expectations for the forthcoming quarter. The genera would be even worse. The president was not satisfied with the performance report manager has just received the condensed quarterly performance report shownand remarked, "l can see some merit in comparing actual performance with below. was happy that her cost performance was favorable; otherwise, her net income budgeted performance because we can see whether actual revenue coincided with our best guess for budget purposes. But I can't see how this performance report helps me evaluate cost-control performance." Read the requirements. (Click the icon to view the quarterly performance report.) Requirement 1. Prepare a columnar flexible budget for Cassablanca Transportation at revenue levels of $11,850,000, $12,000,000, and $12,150,000. Assume that the prices and mix of products sold are equal to the budgeted prices and mix. Begin with the flexible budget at revenues of $11,850,000, next, complete the flexible budget at revenues of $12,000,000 and, then, prepare the flexible budget at revenues of $12,150,000. (Enter all costs as positive numbers.) Cassablanca Transportation Company Flexible Budgets for Various Levels of Sales Net revenue Variable Costs $11,850,000 Fuel Repairs and maintenance Supplies and miscellaneous Variable payroll