Hi there, need help with the required questions, i do not need a formal report .

10.2 Clear Water Containers Ltd Contributed by Glen Stanger Instructor, Douglas College, New Westminster James Virani, the president of Clear Water Containers, started contemplating the first budget variance report he had just received (Exhibit 1). It seemed to present him with more questions than answers. He knew that production had exceeded expectations for the month and he had expected production costs to be higher However, he couldn't tell what had caused the variances from budget, especially since some of the costs were actually lower than budgeted. A couple of minutes later, he called the company's new controller, Patti Lee. Patti saw the call display on her phone and got nervous right away. She had thought it might not be a good idea to send such a high-level variance report without investigating the variances further, and won dered if that was why Mr. Virani was calling. Two minutes later, she had her answer: the president scheduled a meeting with her for the next day and she was to bring information that provided more details about the Creating the variance report was Patti's first innovation since starting with Clear Water Containers two months ago. She was excited to join this new and growing Calgary-based manufacturing company, which makes plastic containers for the consumer water filtration industry. The company found a competitive advantage by producing a high-quality product that can be quickly made in designs specified by the water filtration companies. Patti gathered the information in several exhibits to use as the source for her work. Exhibits 2 and 3 show unit standard and actual costs, respectively. Exhibit 4 shows overhead costs; note that fixed overhead is allocated based on direct labour hours. She also grabbed the company's organization chart, shown in Exhibit 5