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Assembly Department Cost Report For the Month Ended March 31 Actual Planning Results Budget Variance Machine-houra 15,000 20,000 Variable costs Supplies $ 9,900 $ 10,500 $ 600 F Serap 35,000 37,500 2,500 Indirect materials 101,000 120,000 19,000 Fixed costs: Hages and salarien 79,900 75,000 4,900 U Equipment depreciation 105,000 105.000 Total coat $330,800 $348,000 $17,200 F After receiving a copy of this cost report, the supervisor of the Assembly Department stated, "These reports are super. It makes me feel really 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 has chronically failed to meet the sales goals expressed in the company's monthly budgets. 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.