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You have been appointed as an auditor for the project team and you are required to perform and report on the progress through out. A new corporate company has an head office and 10 branches spread across the country. The Board has been mandated by the shareholders to formulate and implement the a strategy that maximizes the value of the firm. At a at a Board meeting held on 30th August 2022, Management has been requested to present the Budget and strategy to the Board for approval before 26th November, 2022. In addtion to the information above the budgeted was set at K 900, 000. or USD 90,000.00. when the rate was K 10.00= USD 1 40% of this expense relates to imported materials from China and at that time the rate was K12=USD 1. 00 Fuel was bought in adavance costing K 150, 000 and the rate was K 15=USD 1 . K 55,000 was spent on imported Chinnese decorations that have been rejected by inspectors from the Local authorities. Human resource cost was budgeted at 20 % of the total budget and actual spending was made at averate rate of K13to = USD . Prepare a report of actual spending that will provide information and explanations for a Management meeting such as: 1.Variance analysis

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