Imogdi Corporation (a U.S-based company) has a wholly-owned subsidiary in Argentina, whose manager is being evaluated on the basis of the variance between actual profit and budgeted profit in U.S. dollars. Relevant information in Argentine pesos (ARS) for the current year is as follows: (in ARS) Revenues Expenses Budget Actual 40,000,00050,000,000 30,000,000 42,000,000 Current year actual and projected exchange rates between the ARS and the U.S. dollar (USD) are as follows: Actual at time of budget Projected ending at time of budget preparation Actual at end of budget period USD 0.063 per ARS 1 USD 0.058 per ARS 1 USD 0.056 per ARS 1 Required: Calculate the total budget variance for the current year translating the budget at the initial exchange rate and translate actual results using the ending exchange rate. Required: Calculate the total budget variance for the current year translating the budget at the projected ending exchange rate and translate actual results using the actual ending date