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Several years ago, Westmont Corporation developed a comprehensive budgeting system for planning and control purposes wine 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 15,000 20,000 Varionces Machine-hours 59,900 $ 10,500 5 600 35,00 37,500 2,500 101,000 120,000 19,00 Variable costs Supplies Scrap Indirect materials Fixed costs: Hages and salaries Equipment depreciation Total cost 79,900 75,000 4,900 105,000 105,000 5330,000 $345.000 $17,200 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, identify at least two reasons 2. What kind of reports should be used to give better insight into how well departmental supervisors are controlling costs 3. Complete the new performance report for the quarter, based on Flexible Budget Performance approach 4. Were costs well controlled in March? N 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 "P" for favorable, "u" for unfavorable, and "None" for no effect (1., zero variance). Input all amounts as positive values.) Westmont Corporation Assembly Department Flexible Budget Performance Report For the Month Ended March 31 Flexible Budget Actual Results 15,000 Machine-hours (0) Planning Budget 20.000 Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total $ 9,900 35.000 101.000 79,900 105,000 5.330 300 10.500 37.500 120.000 75.000 105,000 $ 349,000

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