Exam Saved 7. 5354 Matolka Marine Inc. has just finished its operations for August, which was a particularly busy month. They processed 24% more product than had been originally planned for the month. A report prepared by Management comparing actual costs to budgeted costs appears below. Matoika Marine Cost Control Report For the Month Ended August 31 Units Produced variable costs: Marine supplies Emission tests other variable Administrative supplies Total variable cost Fixed costs: Staff salaries Equipment depreciation Rent utilities Total fixed cost Total cost Actual 750 Budget 600 Variance 150 F $ 9,500 6,630 $ 7,560 $1,940 U 6,100 330 U 1,490 1,200 290 U 430 300 138 U 18,050 15,360 2,690 U 13,000 13,000 3,100 2,650 450 U 1,300 1,300 600 515 18,000 $36,050 17,465 $32,825 85 0 535 0 $3,225 U Help Save & Exit S The managing director was very unhappy with this report, claiming that his costs were higher than expected. He also pointed out that the additional costs had been fully covered by payments from suppliers. The accountant who prepared the report pointed out that actual costs were a lot higher than promised in the budget. 3 Tube Exam 5337 Prime Video My Came Saved Help Save & Exit S Required: 1. Prepare a new performance report for August using the flexible budget approach. (Note. Even though some of these costs might be classified as direct costs rather than overhead, the flexible budget approach can still be used to prepare a flexible budget performance report.). (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (ie., zero variance). Round "Cost Formula" answers to 2 decimal places) Matoika Marine Flexible Budget Performance Report For The Month Ended August 31 Variable costs Marine supplies Emmission tests Other variable Expenses Administrative supplies Total variable cost Fixed costs Staff salaries Equipment depreciation Rent Im Actual Cost Formula (Per unit) 750 Spending or Budget Variance Flexible Budget Static Budget Activity-Level (units) 750 600 mal Exam 4 015321 Variable costs Marine supplies Emmission tests Other variable Expenses Administrative supplies Total variable cost Fixed costs Staff salaries Equipment depreciation Rent Utilities Total fixed cost! Total cost Matoika Marine Saved Flexible Budget Performance Report For The Month Ended August 31 Spending or Budget Variance Flexible Budget Static Budget Actual Cost Formula (Per unit) 750 Activity-Level (units) 750 600 Help. Save & Exit Subm