Makani Clinic Kenerates revenues through diagnosis and treatment of patients. During February 2019, the Clinic budgeted to be visited by 600 patients. The actual number of patients was however, 3560. The dini has provided you with the following budget data for February Fred element per month Formula Variable element per client visit $23.70 Revenue 123.700 Personnel expenses 5X100 55.80 900 MOD Medical supplies Occupancy expenses Administrative expenses 26,100 5,800 800140 5300+10 MODO:20 5,300 11.00 4.000 0.20 Total expenses 337,200 $11/10 The actual results for February were as follows: Revenue Personnel expenses Medical supplies occupancy expenses Administrative expenses 1514290 147.075 STA, 700 $10.110 54920 Required: 1. Prepare a planned budget (static budget for Makani Clinic for February (2 Marks) 2. Prepare a planned static budget performance report for the static budget variances for February indicating whether they are Favourable (F) or Unfavourable (U) (4 Marks) 3. When is a planned budget (static performance report useful for assessing performance? (1 Mark)