For the convenience of its reporters and staff based in London, Nightly News operates a motor pool. The motor pool operated with 15 vehicles until February of this year, when it acquired an additional automobile. (Click the icon to view the additional information.) The schedule below presents the annual budget approved by the news division. The actual costs for March are compared with one-twelfth of the annual budget. (Click the icon to view the budgeted and actual data.) The annual budget was constructed based on the following assumptions: (Click the icon to view the assumptions.) The supervisor is unhappy with the monthly report comparing budget and actual costs for March; she claims it presents her performance unfairly. Her previous employer used flexible budgeting to compare actual costs with budgeted amounts Read the requirements, Requirement 1. Employing flexible-budgeting techniques, prepare a report that shows budgeted amounts, actual costs, and monthly variation for March. Begin with the flexible budget and then compute the flexible budget variances. Label each variance as favorable or unfavorable. (For variances with a 50 balance, make sure to enter "O' in the appropriate field. If the variance is zero, do not select a label.) March Flexible Budget Actual 4,750 E 12,350 Petrol (gasoline) Oil, minor repairs, parts and supplies Outside repairs Insurance Salaries and benefits 25 224 1,230 1,360 Depreciation 19,939 Total costs . P8-41 (similar tol Data Table x Help i More Info For the conveniend operated with 15 W (Click the icon The schedule belok compared with one (Click the icon The 0 The herp amci presents d The motor pool fumishes petrol (gasoline), oil, and other supplies for the cars and hires one mechanic who does routine maintenance and minor repairs. Major repairs are done at a nearty commercial garage. A supervisor manages the operations. Each year the supervisor prepares an operating budget, informing Nightly News management of the funds needed to operate the pool. Depreciation on the automobiles is recorded in the budget in order to determine the cost per kilometer. Read Nightly News London Motor Pool Budget Report for March 20X1 Annual One-Month March Budget Budget Actual 48,600 f 4,050 Over (Under) 700 Requirement 1. El mon 4,750 ble. not select Begin with the flexi a label.) Print Done 145,800 12,150 12,350 200 Petrol (gasoline) Oil, minor repairs, parts, and supplies Outside repairs Insurance Salaries and benefits 2,160 180 25 (155) March Flexible 2,520 210 224 14 i More Info 1.230 14,760 15,300 1,230 1,380 1,275 85 Depreciation 229,140 19,095 19,939 8144 f f f Petrol (gasoline) Ol, minor repairs, parts, and supplies Outside repairs Insurance Salaries and benefits 140,000 Total costs Total kilometers Cost per kilometer Number of automobiles 1,620,000 0.1414 135,000 0.1414 E 1. 15 automobiles in the pool 2. 108,000 kilometers per year per automobile 3. 7 kilometers per liter of petrol for each automobile 4. 0.21 per liter of petrol 5. 0.09 per kilometer for oil, minor repairs, parts, and supplies 6. 144 per automobile in outside repairs 0.1424 15 15 16 Depreciation Print Done Total costs Print Done Enter any number in the edit ? For the convenience of its reporters and staff based in London, Nightly News operates a motor pool. The motor pool operated with 15 vehicles until February of this year, when it acquired an additional automobile. (Click the icon to view the additional information.) The schedule below presents the annual budget approved by the news division. The actual costs for March are compared with one-twelfth of the annual budget. (Click the icon to view the budgeted and actual data.) The annual budget was constructed based on the following assumptions: (Click the icon to view the assumptions.) The supervisor is unhappy with the monthly report comparing budget and actual costs for March; she claims it presents her performance unfairly. Her previous employer used flexible budgeting to compare actual costs with budgeted amounts Read the requirements, Requirement 1. Employing flexible-budgeting techniques, prepare a report that shows budgeted amounts, actual costs, and monthly variation for March. Begin with the flexible budget and then compute the flexible budget variances. Label each variance as favorable or unfavorable. (For variances with a 50 balance, make sure to enter "O' in the appropriate field. If the variance is zero, do not select a label.) March Flexible Budget Actual 4,750 E 12,350 Petrol (gasoline) Oil, minor repairs, parts and supplies Outside repairs Insurance Salaries and benefits 25 224 1,230 1,360 Depreciation 19,939 Total costs . P8-41 (similar tol Data Table x Help i More Info For the conveniend operated with 15 W (Click the icon The schedule belok compared with one (Click the icon The 0 The herp amci presents d The motor pool fumishes petrol (gasoline), oil, and other supplies for the cars and hires one mechanic who does routine maintenance and minor repairs. Major repairs are done at a nearty commercial garage. A supervisor manages the operations. Each year the supervisor prepares an operating budget, informing Nightly News management of the funds needed to operate the pool. Depreciation on the automobiles is recorded in the budget in order to determine the cost per kilometer. Read Nightly News London Motor Pool Budget Report for March 20X1 Annual One-Month March Budget Budget Actual 48,600 f 4,050 Over (Under) 700 Requirement 1. El mon 4,750 ble. not select Begin with the flexi a label.) Print Done 145,800 12,150 12,350 200 Petrol (gasoline) Oil, minor repairs, parts, and supplies Outside repairs Insurance Salaries and benefits 2,160 180 25 (155) March Flexible 2,520 210 224 14 i More Info 1.230 14,760 15,300 1,230 1,380 1,275 85 Depreciation 229,140 19,095 19,939 8144 f f f Petrol (gasoline) Ol, minor repairs, parts, and supplies Outside repairs Insurance Salaries and benefits 140,000 Total costs Total kilometers Cost per kilometer Number of automobiles 1,620,000 0.1414 135,000 0.1414 E 1. 15 automobiles in the pool 2. 108,000 kilometers per year per automobile 3. 7 kilometers per liter of petrol for each automobile 4. 0.21 per liter of petrol 5. 0.09 per kilometer for oil, minor repairs, parts, and supplies 6. 144 per automobile in outside repairs 0.1424 15 15 16 Depreciation Print Done Total costs Print Done Enter any number in the edit