Required: Please help me solve and explain this problem thanks.

1. The companys president is uneasy about the cost reports, identify at least two reasons.

2. What kind of reports should be used to give better insights into how well departmental supervisors are controlling costs?

3. Complete the new performance report for the quarter, based on Flexible Budget Perfomance approach.

4. Were costs well controlled in March?

A report for the company's Assembly Department for the month of March foll Assembly Department Cost Report For the Month Ended March 31 Actual Planning Results Budget Variances Machine-hours 35,000 40,000 Variable costs: Supplies $ 29,700 $ 32,000 $2,300 F Scrap 19,500 20,000 500 F Indirect materials 51,800 56,000 4,200 F Fixed costs: Wages and salaries 79,200 80,000 800 F Equipment depreciation 60,000 60,000 Total cost $240,200 $248,000 $7,800 F Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 The company's president is uneasy about the cost reports, identify at least two reasons. (Select "X" if the item is on reasons.) Cost reports are ineffective since budgeted costs at one level of activity are compared to actual costs at another level of activity Cost reports show whether fixed costs are controlled and do not show whether variable costs are controlled Cost reports are effective since budgeted costs at one level of activity are compared to actual costs at another level of activity Cost reports show whether fixed costs and variable costs are controlled Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What kind of reports should be used to give better insight into how well departmental supervisors Flexible budget performance reports must be used Fixed budget performance reports must be used Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the new performance report for the quarter, based on Flexible Budget Performance approach. (Do not roun calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no variance). Input all amounts as positive values.) Westmont Corporation Assembly Department Flexible Budget Performance Report For the Month Ended March 31 Flexible Budget Actual Results 35.000 Planning Budget 40,000 Machine-hours (9) Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total $ 29,700 19,500 51,800 79.200 60.000 $ 240.200 $ 32.000 20,000 56,000 80.000 60.000 $ 248.000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Were costs well controlled in March? Costs were well controlled Costs were not well controlled