Several years ago, Westmont Corporation developed a comprehensive budgeting system for planning and control purposes. While departmental supervisors have been happy with the system, the factory manager has expressed considerable dissatisfaction with the information being generated by the system A report for the company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Actual Planning Results Budget Variances Machine hours 15,000 20,000 Variable costs: Supplies Scrap Indirect materials Fixed costst Wages and salaries Equipment depreciation Total cost $9,300 $ 9,900 $ 600 F 32,200 34,500 2,300 F 93,800 111,000 17,200 F 77,500 73,000 4,500 U 183,000 103,000 $ 315,800 $331,480 $15,600 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 con olling costs? 3 Complete the new performance report for the quarter, based on Flexible Budget Performance approach 4. Were costs well controlled in March? 4 Were costs well controlled in Morch? on Flexico Budget Performance approach Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 The company's president is uneasy about the cost reports, identify at least two reasons. (Select the item is one of the reasons Cost reports are ineflective since budgeted costs at one level of activity are compared to actual costs another level of activity Cost reports show whether fed costs are controlled and do not show whether variable costs are Corried Cost reports are effective since budgeted costs at one level of activity are compared to actual costat another level of activity Cost reports show whether fixed costs and variable costs are controlled All Required 2 > U rences o now well departmental supervisors are controlling costs? te 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. Required 1 Required 2 Required 3 Required 4 What kind of reports should be used to give better insight into how well departmental supervisors are controlling costs? Flexible budget performance reports must be used Fored budget performance reports must be used Required 1 Required 2 Required Required 4 Complete the new performance report for the quarter, based on Flexible Budget Performance approach. Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F* for favorable, "U" for unfavorable, and "Non for no effect (e. 200 variance). Input all amounts as positive values.) Westmont Corporation Assembly Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Planning Results Budget Budget Machine hours 15.000 20.000 Supplies Scrap Indirect matters Wages and salaries Enament depreciation Total $ 0,360 32.200 33.800 77,500 100 000 $ 315.000 5 9,800 34 500 111.000 73.000 100.000 $ 331 400 company's monthly budgets Sketing department has chronically failed to meet the sales goals expressed in the Required: 1 The company's president is uneasy about the cost reports, identity 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. Required 1 Required 2 Required Required 4 Were costs well controlled in March? Costs were well controlled Costs were not well controlled