Prepare a new performance report for August using the flexible budget approach. (Note: Even though some of these cos assified as direct costs rather than overhead, the flexible budget approach can still be used to prepare a flexible budget p eport). (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no ef ero variance). Round "Cost Formula" answers to 2 decimal places) Variable costs: Medical supplies Emmission tests Other variable Expenses Administrative supplies Total variable cost Fixed costs: Staff salaries Equipment depreciation Rent Utilities Total fixed cost N P W Matoika Marine Flexible Budget Performance Report For The Month Ended August 31 Actual Cost Formula (Per unit) 780 Spending or Budget Variance Flexible Budget Static Budget Activity-Level (units) 780 600 Ac Prev 4 of 17 Next > 0 Saved Help Matoika Marine Inc. has just finished its operations for August, which was a particularly busy month. They processed 24% more product than had been originally planned for the month. A report prepared by Management comparing actual costs to budgeted costs appears below. Matoika Marine Cost Control Report For the Month Ended August 31 Actual 780 Budget 600 Variance 180 F Units Produced Variable costs: Marine supplies Emmission tests Other Variable Administrative supplies Total variable cost Fixed costs: Staff salaries Equipment depreciation Rent Utilities Total fixed cost Total cost $ 9,550 6,780 $ 7,500 6,300 $ 2,050 U 480 U 1,540 1,350 190 U 440 240 200 U 18,310 15,390 2,920 U 14,000 14,000 3,200 2,700 500 U 1,400 1,400 610 19,210 520 18,620 90 U 590 U $37,520 $34,010 $ 3,510 U The managing director was very unhappy with this report, claiming that his costs were higher than expected. He also pointed out the additional costs had been fully covered by payments from suppliers. The accountant who prepared the report pointed out tha actual costs were a lot higher than promised in the budget. 1. Activate Go to PL Exam2020 G ext/map/index.html?_con-con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252Fm... Saved Help Save & Exit Submit 1 1:52:37 Variable costs: Medical supplies Emmission tests Other variable Expenses Administrative supplies Total variable cost Fixed costs: Staff salaries Equipment depreciation Rent Utilities Total fixed cost Total cost Actual Cost Formula (Per unit) 780 Spending or Budget Variance Flexible Budget Static Budget 2. This part of the question is not part of your Connect assignment. X N P W Activity-Level (units) 780 600 Activate Windows Go to PC settings to activate Win