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Problem 9-22 (Algo) Critiquing a Variance Report; Preparing a Performance Report [LO9-1, LO9-2, L09. 3, LO9-4) 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 costs: Supplies $ 5,7805 6,100 5000 + Scrap 15,400 10,500 1,100 Indirect materials 50,600 57,000 6,400 Fixed costs Wages and salaries 63,100 61,000 2.100 Equipment depreciation 91,000 91,000 Total cost $225,500 $251,000 $6,000 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, Identity at least two reasons Savod 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 "E" for favorable, "Ufor unfavorable, and "None" for no effect (l.e., Zero variance). Input all amounts as positive values.) Westmont Corporation Assembly Department Flexible Budget Beifonance Report For the Month Ended March 3 Actual Revenue and Spending Floxine Planning Results Variances Budget Activity Variances Budget Machine hours (q) 25.000 30,000 Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total $ 5,700 15.400 50.600 63.100 $1,000 5 225 800 $ 6,300 16.500 57000 61.000 91.000 $ 231,800