Required: 1. The company's president is uneasy about the cost reports, identify at least two reasons. 2. What kind of reports should be used to give better insight into how well departmental supervisors are controlling costs? 3. Complete the new performance report for the quarter, based on Flexible Budget Performance approach. 4. Were costs well controlled in March? Complete this question by entering your answers in the tabs below. The company's president is uneasy about the cost reports, identify at least two reasons. Note: Select " X " if the item is one of the reasons. Were costs well controlled in March? Westmont Corporation uses a comprehensive budgeting system for planning and control purposes. While departmental supervisors are happy with the system, the factory manager is not. A report for the company's Assembly Department for March follows: After receiving this report, the supervisor of the Assembly Department stated, "These reports are super. It makes me feel good to see how well things are going in my department. I can't understand why those people upstairs complain so much about the reports." For the last several years, the company's marketing department chronically failed to meet the sales goals expressed in the company's monthly budgets. \begin{tabular}{|l|l|l|l|} \hline Required 1 & Required 2 & Required 3 & Required 4 \\ \hline \end{tabular} What kind of reports should be used to give better insight into how well departmental supervisors are controlling costs? Complete the new performance report for the quarter, based on Flexible Budget Performance approach. Note: Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values