need A,B,C please

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3. All Kiwi Ltd. (a New Zealand-based company) has a wholly-owned subsidiary in Malaysia whose manager is being evaluated on the basis of the variance between actual profit and budgeted profit in New page 434 Zealand dollars (NZD). Relevant information in Malaysian ringgit (MYR) for the current year is as follows: Budget Actual Revenues MYR 12,000,000 MYR 11,000,000 Expenses 9,000,000 9,000,000 Current year actual and projected exchange rates between the NZD and the MYR are as follows: Actual at NZD 0.312 per MYR 1 budget preparation Projected ending at NZD time of 0.340 budget preparation MYR 1 per Actual at end of budget period NZD 0.357 per MYR 1 Required: a. Calculate the total budget variance for the current year using each of the five combinations of exchange rates for translating budgeted and actual results shown in Exhibit 10.10. b. Make a recommendation to All Kiwi's corporate management as to which combination in item (a) should be used, assuming that the manager of the Malaysian subsidiary does not have the authority to hedge against changes in exchange rates. Make a recommendation to All Kiwi's corporate management as to which combination in item (a) should be used, assuming that the manager of the Malaysian subsidiary has the authority to hedge against unexpected changes in exchange rates. EXHIBIT 10.10 Combinations for Translation of Budget and Actual Results Source: D. R. Lessard and P. Lorange. "Currency Changes and Management Control: Resolving the Centralization/Decentralization Dilemma, Accounting Review, July 1977, pp. 628-37. Rate Used to Track Actual Performance Relative to Budget Actual Actual at Projected at TOB at EOP Rate Used for Determining Budget Actual at time of budget (TOB) Projected at time of budget Actual at end of period (EOP) n/a n/a n/a 2 The five meaningful combinations of exchange rates differ as follows in the extent to which management is held responsible for fluctuations in exchange rates