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 25,000 30,000 Variable costsi Supplies $7,000 $3,400 5 000 Scrap 25,200 27,000 1,800 Indirect materials 75,000 8,500 12,700 Mixed costs Westes and salaries 71.500 60.000 3.000 tout depreciation 08000 90.000 Totalcoot $ 27,300 $209,900 $31,600 Aner receiving a copy of this cost report the supervisor of the Assembly Department stated "These reports are super, it makes me feel tally 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 presidenti uneasy about the costrenarti identity at least two reasons 2. What kind of reports should be used to give better sont 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? 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 cos 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 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 Controports show whether fixed costs are controlled and do not show whether variable costs are controlled Cost reports are offective since budgeted couts at one tovel of activity are compared to actonicos another level of activity Cost reparts show whether fixed costs and Variable costs are controlled Required 2 > equired: The company's president is uneasy about the cost reports, identify at least two reasons. What kind of reports should be used to give better insight into how well departmental supervisors are controlling cost Complete the new performance report for the quarter, based on Flexible Budget Performance approach. Were costs well controlled in March? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Reculliad 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 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 calculation indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None' for no effect ... zero Varlance) Input all amounts as positive values.) Westmont Corporation Assembly Department Flexible Budget Performance Report For the Month Endou March 31 Actual Flexible Planning Results Budget Budoni Machinebou 25.000 30,000 Supplies [Scrap Indirect Wages and was Leilioni dopredation To 5 7800 25,200 75.000 71.500 98.000 52/1300 3 8.400 27 000 500 60.000 90.000 $209.900 Jook 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 Required 4 Were costs will controlled in March? Costs were well controlled Costs were not well controlled Required