Complete this question by entering your answers in the tabs below. Req 2 Req 3 Req 4 Req 5A Req 5B Which of the two budgets would be more useful when planning the company's cash needs over a range of activity? would be more useful. \fReq 2 Req 3 Reg 5A Req SB Prepare a performance report that compares flexible budget and actual costs for the period just ended (i.e., the report that the general manager likely used when assessing Kellerman's performance). (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (Le.r zero variance). Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Req 2 Req 3 Req 4 Req 5A Req 5B Which of the following two reports is preferred? A performance report based on Complete this question by entering your answers in the tabs below. Req 2 Req 3 Req 4 Req 5A Req 5B Which of the following statements is false? The general manager's warning is appropriate because of the sizable variances that have arisen. OWith the static budget, performance appears favorable. Kellerman's assessment regarding the favorable overall performance for the period is correct. Johnson Electrical produces industrial ventilation fans. The company plans to manufacture 72,000 fans evenly over the next quarter at the following costs: direct material, $1,656,000; direct labor, $432,000; variable production overhead, $493,200; and fixed production overhead, $987,000. The $987,000 amount includes $84,000 of straightline depreciation and $123,000 of supervisory salaries. Shortly after the conclusion of the quarter's first month, Johnson reported the following costs: Direct material $ 489,300 Direct labor 127,900 Variable production overhead 1?0,000 Depreciation 28,000 Supervisory salaries 42,100 Other fixed production overhead 256,000 Total $1,113,399 Dave Kellerman and his crews turned out 20,000 fans during the montha remarkable feat given that the firm's manufacturing plant was closed for several days because of storm damage and ooding. Kellerman was especially pleased with the fact that overall financial performance for the period was favorable when compared with the budget. His pleasure, however, was very shortlived. as Johnson's general manager issued a stern warning that performance must improve, and improve quickly, if Kellerman had any hopes of keeping his job. Required: 2. Which of the two budgets would be more useful when planning the company's cash needs over a range of activity? 3. Prepare a performance report that compares static budget and actual costs for the period just ended (i.e., the report that Kellerman likely used when assessing his performance). 4. Prepare a performance report that compares flexible budget and actual costs for the period just ended (i.e., the report that the general manager likely used when assessing Kellerman's performance). 5-5. Which ofthe following two reports is preferred? 54:. Which of the followino statements is false