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Stable Enterprises is organized into two geographic divisions (Asia and Europe) and a corporate headquarters. Late in year 7. the Stable Finance Department prepared financial operating plans (budgets) for the two divisions, shown as follows (in thousands of dollars). Revenues Direct division costs Operating profit before allocation Asia $55,000 27,500 $27,500 Europe $70,000 42,000 $28,000 Corporate overhead costs (in thousands of dollars) are expected to be $33,000 in year 8. Of the $33,000, $20,500 is fixed and $12,500 is variable, with respect to revenue. Division managers are evaluated and compensated in part on division operating profit relative to the budget. Required: a. Suppose corporate overhead is allocated to the two divisions based on relative revenue. What are the budgeted operating profits in each division for year 8 after the corporate costs are allocated? b. At the end of year 8, actual corporate costs incurred (in thousands of dollars) were $20,000. Of the $20,000, $11,000 was fixed. Actual results (in thousands of dollars) in the two divisions are as follows. Asia Europe Revenues $55,000 $70,000 Direct costs 27,500 42,000 Operating profit before allocation $27,500 $28,000 What are the operating profits in each division for year 8 after the corporate costs are allocated? Complete this question by entering your answers in the tabs below. Required A Required B Asia Suppose corporate overhead is allocated to the two divisions based on relative revenue. What are the budgeted operating profits in each division for year 8 after the corporate costs are allocated? (Do not round intermediate calculations.) Europe Total Revenues Direct costs Operating profit before allocations Corporate costs Operating profit S $ 0 $ 0 S 0 $ 0 $ 0 0 Complete this question by entering your answers in the tabs below. Required A Required B What are the operating profits in each division for year 8 after the corporate costs are allocated? (Do not round intermediate calculations.) Asia Europe Total Revenues S 0 $ 0 $ 0 Direct costs Operating profit before allocations Corporate costs Operating profit S 0 $ 0 $ 0