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 Netual Planning Results Budget 25,000 30,000 Machine-hours Variances Variable costs: Supplies Serap Indirect materials Fixed costs Wages and salaries Equipment depreciation Total cost $6,000 $6,600 600 F 16,800 18,000 1,200 T 54,200 61,500 7.300 64,300 62,000 2,300 U 92.000 92,000 523),100 $240,100 $6.000 Y After receiving a copy of this cost report, the supervisor of the Assembly Department stated, "These reports are super. It makes me teel 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 foied to meet the sales goals expressed in the company's monthly budgets. 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. 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? K 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 one of the 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 foxed costs are controled 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 faced costs and variable costs are controlled Required Required 2 > After receiving a copy of this cost report, the supervisor of the Assembly Department stated. "These reports are super. It makes m feel really good to see how well things are going in my department. I can't understand why those people upstairs complain so mu 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. 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 Fixed budget performance reports must be used Luty Churray uwLLIMUI, ULCUSU CUJUS 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 3 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 "None" for no effect (1.e., zero variance). Input all amounts as positive values.) Westmont Corporation Assembly Department Flexible Budget Performance Report + For the Month Ended March 31 Actual Flexible Results Budget 25,000 Planning Budget 30,000 Machine hours (a) Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total S 6.000 16,800 54 200 64,300 92.000 $ 233,300 $ 6,600 18.000 61,500 62.000 92.000 $240.100 Required 2 Required 4 > 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. Required 4 Required 1 Required 2 Required 3 Were costs well controlled in March? Costo were woll controlled Costs were not well controlled