The Budgetary Schedule of Al-Marfa Power Station Variance Budget Actual Favorable Unfavorable Revenues: Tax Revenues $2,500,000 $2.400,000 X Charges for services 500.000 100.000 Total revenues X X Expenditures: Administrative expenditure Materials and supplies X 100,000 100.000 F X B00,000 100.000 600.000 200.000 Health services X X Total expenditures X 200.000 Excess (Deficit) X 500.000 Fund balance - Beginning Fund balance - Ending Required: (1) From the budget, actual, and variance columns above, you are required to: Compute the missing amounts that are marked by (x) and indicate whether the variance is favorable or not (8.5 marks) i Journalize the budgetary lestimated) transactions. 125 marks) (2) Explain the basis of recognizing revenues and expenditure of the general funds. marks) (3) Explain the bases on which assets and liabilities are reported in the government-wide financial statements, (2 marks)