The Skokamish indian tribe sells freworks for the 5 weeks preceding July 4 . The tribe's stand on Highway foi near Hoodsport had budgeted sales of 530.000. Expected expenses were as folowi IHB (Cick the icon to vew the budget data.) Actual sales were $79.440, almost equal to the budget. The trbe spent 339,400 for fireworks, $13,100 for labor, and $6,000 for other costs. Requirements 1. Compute budgeted profi and actual proft. 2. Prepare a performance report to help identy those costs that were significantly different from the budget. 3. Sucoose the tribe uses a management-by-ixception nule. What costs deserve further explanation? Why? Requirements 1 and 2. Compute budgeted profit and achal proft. Prepare a performence report to help idently those costs that were signtcanty dilerent from the budget. Start finst by computing the budgeled proft and actual profa by fling in the frst portion of the performance teport. Next, complete the performance report by calcuating the variances. (Label each variance as favorable (F) of unvavorable (U).) The coet of fireworks was budgel and sales was is budget theretore, we look into the freworns cost for an explanafion The Skokamish indian tribe sells freworks for the 5 weeks preceding July 4 . The tribe's stand on Highway foi near Hoodsport had budgeted sales of 530.000. Expected expenses were as folowi IHB (Cick the icon to vew the budget data.) Actual sales were $79.440, almost equal to the budget. The trbe spent 339,400 for fireworks, $13,100 for labor, and $6,000 for other costs. Requirements 1. Compute budgeted profi and actual proft. 2. Prepare a performance report to help identy those costs that were significantly different from the budget. 3. Sucoose the tribe uses a management-by-ixception nule. What costs deserve further explanation? Why? Requirements 1 and 2. Compute budgeted profit and achal proft. Prepare a performence report to help idently those costs that were signtcanty dilerent from the budget. Start finst by computing the budgeled proft and actual profa by fling in the frst portion of the performance teport. Next, complete the performance report by calcuating the variances. (Label each variance as favorable (F) of unvavorable (U).) The coet of fireworks was budgel and sales was is budget theretore, we look into the freworns cost for an explanafion