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Question 2 (30 marks) Star Music Academy provide guitar lessons for students of Universiti Sains Malaysia

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Question 2 (30 marks) Star Music Academy provide guitar lessons for students of Universiti Sains Malaysia. The management has Identified two cost drivers for the purpose of budgeting and performance reports. The cost drivers are the number of course and the total number of students. The academy uses the following data in its budgeting Fixed Cost per Variable Cost Variable Cost Month per course per Student (RM (RM) RM Revenue 450 2500 Instructor wages Classroom supplies 10 Utos 770 130 Once rent 4,000 Insurance 1.890 2.200 Administrative expenses 15 In June, the academy projected that it will run three (3) lessons with a total of 45 students. The academy's income statement showing the actual results for the month of June are as below Star Music Academy Income Statement For the Month Ended June 30 Actual students 45 Actual courses Revenue 21375 Expenses 8250 Instructor wages Classroom supplies 600 Utilities 1.100 Officerent 4.000 Insurance 1.980 Administrative expenses 2500 Required: (a) Prepare a fexible budget performance report for the month of June 2020 [10 marks Why Prepare an analysis of the revenue and spending variances for the month of June 2020. [10 marks What are some of the possible reasons that actual results may differ from what have been budgeted at the beginning of a period? [5 marks (d) "As a practical matter, planning and control mean exactly the same thing. Do you agree? Explain your reasons [5 marks