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Could you please prepare the budget versus actual taking into account the movements of exchange rates and calculate budget variances for the information as follows?

Could you please prepare the budget versus actual taking into account the movements of exchange rates and calculate budget variances for the information as follows?

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The following table shows performance measures for Mantaka Ltd for the period ending 31 December 2018. It is located in New Zealand and is a subsidiary of an Australian multinational company. Performance Budgeted Actual Variance measure SAUD $AUD SAUD Revenue 25,000 20,000 (5,000) Expenses 12,500 10,000 2,500 Net Profit 12,500 10,000 (2,500) The manager of Mantaka Ltd recently received his performance review in which the head office in Australia classified the performance as "not meeting expectations". Further information: 1. The Australian multinational company sets the budget in Australian dollars. The budgeted amounts were converted to New Zealand dollars and conveyed to Mantaka Led by the Australian head office. The amounts were converted using a budgeted exchange rate for 2018 of 1 AUD = 2 NZD. 2. The actual operating results at the end of the twelve month financial period were conveyed back to the Australian head office where they converted the New Zealand dollar amounts to Australian dollars using the end of year exchange rate for 2018 which was 1 AUD = 3 NZD. In assessing the New Zealand subsidiary manager's performance any deviations from the budgeted rate and the actual rate are ignored

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