Question 2 Denise recently took over a mid-scale steakhouse in West Lafayette. Here are the operating budget and achieved the actual results shown. Calculate the variance and variance percentage for each line item. Then answer the questions that follow. Variance % Budget $500,000 150,000 $650,000 Actual $550,000 165,000 Sales Food Beverage Total Sales Total Controllable Expense Total Fixed Expense Profit (Loss) 450,000 495,000 135,000 135,000 $65,000 1. What is your assessment of this operation's expense control performance during this budget period? 2. Why are managers who are skilled at controlling expenses in such high demand in the hospitality industry