originally presented to the restaurant manager. P10-41. Comprehensive Performance Report Instant Computing is a contract manufacturer of laptop computers sold under brand named companies. Presented are Instant's budgeted and actual contribution income statements for October. The company has three responsibility centers: Production, Selling and Distribution, and Administration Production and Administration are cost centers while Selling and Distribution is a profit center. $800,000 INSTANT COMPUTING Budgeted Contribution Income Statement For Month of October Sales (2.000 x $400) Less variable costs Variable cost of goods sold Direct materials (2.000 x $60). $120,000 Direct labor (2,000 x 540) 80,000 Manufacturing overhead (2,000 $20) 40,000 $240,000 Selling and Distribution (2,000 x $45). 90,000 Contribution margin Less fixed costs Manufacturing overhead. 160,000 Administrative 125,000 Selling and Distribution 75,000 Net income (330,000) 470,000 (360,000) $110,000 $866,250 INSTANT COMPUTING Actual Contribution Income Statement For Month of October Sales (2.250 x $385) Less variable costs Cost of goods sold Direct materials.. $139,500 Direct labor 85,500 Manufacturing overhead 43,875 $268,875 Selling and Distribution 105,750 Contribution margin Less fixed costs Manufacturing overhead 168,000 Administrative. 135,000 Selling and Distribution 74,600 Net Income (loss) (374,625) 491,625 (377,600) $114,025 Required a. Prepare a performance report for Production that compares actual and allowed costs. b. Prepare a performance report for Selling and Distribution that compares actual and allowed costs. c. Determine the sales price and the net sales volume variances. d. Prepare a report that summarizes the performance of Selling and Distribution e. Determine the amount by which Administration was over or under budget. f. Prepare a report reconciling budgeted and actual net income. Your report should focus on the performance of each responsibility center