CHOBO Municipal Council uses a flexible budgeting control system in assessing its performance. The following details are available for the period 31stDecember 2018 to 31st December 2019:

FIXED BUDGET ACTUAL RESULTS

Production and Sales in units 500000 700000 K000 K000 Revenue (rates, licenses and others ) 890000 990000 Costs Direct material 200000 250000 Direct labour 120000 150000 Direct expenses 50000 40000 Variable overhead 100000 145000 Production overheads ( 60 % variable , the rest fixed) 50000 60000 Depreciation ( fixed ) 30000 35000 Maintenance charges( fixed ) 40000 42000 Other overheads ( fixed ) 20000 24000 Management Salaries ( fixed) 60000 58000

REQUIRED: Prepare a Flexible Budget Performance Report , showing total costs , and profits at Fixed Budget , flexible Budget and Actual results for 6the period ended 31 December 2019 be presented to management