Question

Use excal show your formulas

Download the Applying Excel form and enter formulas inall cells that contain question marks.

For example, in cell B30 enter the formula "=B19".

Notes:

In the text, variances are always displayed as positive numbers.To accomplish this, you can use the ABS() function in Excel. Forexample, the formula in cell C31 would be "=ABS(E31−B31)".

Cells D31 through D39 and G31 through G39 already containformulas to compute and display whether variances are Favorable orUnfavorable. Do not enter data or formulas into those cells—if youdo, you will overwrite these formulas.

After entering formulas in all of the cells that containedquestion marks, verify that the amounts match the numbers in theexample in the text.

Check your worksheet by changing the revenue in cell D4 to$16.00; the cost of ingredients in cell D5 to $6.50; and the wagesand salaries in cell B6 to $10,000. The activity variance for netoperating income should now be $850 U and the spending variance fortotal expenses should be $410 U. If you do not get these answers,find the errors in your worksheet and correct them.

Save your completed Applying Excel form to your computerand then upload it here by clicking “Browse.” Next, click “Save.”You will use this worksheet to answer the questions in Part2.

PLEASE SHOW YOUR FORMULAS

Data
Revenue			$16.50	q
Cost ofingredients			$6.25	q
Wages andsalaries	$10,400
Utilities	$800	+	$0.20	q
Rent	$2,200
Miscellaneous	$600	+	$0.80	q
Actualresults:
Revenue	$27,920
Cost ofingredients	$11,110
Wages andsalaries	$10,130
Utilities	$1,080
Rent	$2,200
Miscellaneous	$2,240
Planning budgetactivity	1,800	meals served
Actualactivity	1,700	meals served
Entera formula into each of the cells marked with a ? below
ReviewProblem: Variance Analysis Using a Flexible Budget
Construct a flexible budget performance report
					Revenue
					and
	Planning	Activity		Flexible	Spending		Actual
	Budget	Variances		Budget	Variances		Results
Meals served	?			?			?
Revenue	?	?		?	?		?
Expenses:
Cost ofingredients	?	?		?	?		?
Wages andsalaries	?	?		?	?		?
Utilities	?	?		?	?		?
Rent	?	?		?	?		?
Miscellaneous	?	?		?	?		?
Totalexpenses	?	?		?	?		?
Net operatingincome	?	?		?	?		?