Doggy World operates a chain of pet stores in the Prairies. The manager of each store reports to the regional manager, who, in turn, reports to headquarters in Regina. The actual income statements list K for the Winnipeg store, the Manitoba region (including the Winnipeg store), and the company as a whole (including the Manitoba region) for July are as follows: i (Click the icon to view the actual income statements.) . i (Click the icon to view the budgeted income statements.) Requirements 1. Prepare a report for July that shows the performance of the Winnipeg store, the Manitoba region, and the company as a whole. 2. As the Manitoba region manager, would you investigate the Winnipeg store on the basis of this report? Why or why not? 3. Briefly discuss the benefits of budgeting. Base your discussion on Doggy World's performance report. X X More info More info Actual income statements Budgeted amounts for July were as follows: Winnipeg Manitoba Companywide Winnipeg Manitoba Companywide 148,400 $ 1,648,000 $ 4,500,000 Revenue Revenue $ 163,400 $ 1,768,000 $ 4,750,000 Expenses: Expenses: Region manager/headquarters Region manager/headquarters office $ 57,000 $ 118,000 office $ - $ 62,600 $ 120,000 Cost of materials 81,800 871, 100 1,804,000 Cost of materials 86,400 963,800 1,975,000 Salary expense 38,600 415, 100 1, 119,000 Salary expense 38,700 441,500 1,099,000 Depreciation expense 7,800 96,000 437,000 Depreciation expense 7,800 87,300 444,000 Utilities expense 4,500 46,200 265,000 Utilities expense 4,600 54,900 275,000 Rent expense 2,900 34,700 177,000 Rent expense 3,400 32,400 173,000 Total expenses 135,600 1,520, 100 3,920,000 Total expenses 140,900 1,642,500 4,086,000 $ 12,800 $ 127,900 $ Operating income 580,000 Operating income $ 22,500 $ 125,500 $ 664,000 Print Done Print Done