Homework Help is Here – Start Your Trial Now!
Business
Accounting
A D E 1 |Chapter 9: Applying Excel Data 4 Revenue $ 16.50 q 5 |Cost of ingredients $ 6.25 q 6. Wages and salaries 2$ 10,400 Utilities 2$ 800 $ 0.20 q 8 Rent $ 2,200 9. Miscellaneous 2$ 600 $ 0.80 q 10 11 Actual results: 12 Revenue $ 29,935 13 Cost of ingredients $ 11,320 14 Wages and salaries 2$ 10,260 15 lities 2$ 1,150 16 Rent 2$ 2,200 17 Miscellaneous $ 2,085 18 19 Planning budget activity 1,700 meals served 20 Actual activity 1,800 meals served . What is the activity variance for revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U nd "None" for no effect (i.e., zero variance)). The amount of the activity variance for revenue . What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" pr unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for the cost of ingredients c. What is spending variance for wages and salaries? (Indicate the effect of each variance by selecting "F" for f unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for wages and salaries 1. What is spending variance for total expenses? (Indicate the effect of each variance by selecting "F" for fa infavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for total expenses

A D E 1 |Chapter 9: Applying Excel Data 4 Revenue $ 16.50 q 5 |Cost of ingredients $ 6.25 q 6. Wages and salaries 2$ 10,400 Utilities 2$ 800 $ 0.20 q 8 Rent $ 2,200 9. Miscellaneous 2$ 600 $ 0.80 q 10 11 Actual results: 12 Revenue $ 29,935 13 Cost of ingredients $ 11,320 14 Wages and salaries 2$ 10,260 15 lities 2$ 1,150 16 Rent 2$ 2,200 17 Miscellaneous $ 2,085 18 19 Planning budget activity 1,700 meals served 20 Actual activity 1,800 meals served . What is the activity variance for revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U nd "None" for no effect (i.e., zero variance)). The amount of the activity variance for revenue . What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" pr unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for the cost of ingredients c. What is spending variance for wages and salaries? (Indicate the effect of each variance by selecting "F" for f unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for wages and salaries 1. What is spending variance for total expenses? (Indicate the effect of each variance by selecting "F" for fa infavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for total expenses

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%
Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: A B D E 1 Chapter 9: Applying Excel 3 Data 4 Revenue $ 16.50 q 5 Cost of ingredients $ 6.25 q 6 Wages and salaries 2$ 10,400 Utilities $ 800 $ 0.20 q 8 Rent $ 2,200 9. Miscellaneous $ 600 $ 0.80 q 10 11 Actual results: 12 Revenue $ 29,935 13 Cost of ingredients $ 11,320 14 Wages and salaries $ 10,260 15 Utilities $ 1,150 16 Rent $ 2,200 17 Miscellaneous $ 2,085 18 19 Planning budget activity 1,700 meals served 20 Actual activity 1,800 meals served a. What is the activity variance for revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the activity variance for revenue b. What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for the cost of ingredients c. What is spending variance for wages and salaries? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for wages and salaries d. What is spending variance for total expenses? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for total expenses
Transcribed Image Text:Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: A B D E 1 Chapter 9: Applying Excel 3 Data 4 Revenue $ 16.50 q 5 Cost of ingredients $ 6.25 q 6 Wages and salaries 2$ 10,400 Utilities $ 800 $ 0.20 q 8 Rent $ 2,200 9. Miscellaneous $ 600 $ 0.80 q 10 11 Actual results: 12 Revenue $ 29,935 13 Cost of ingredients $ 11,320 14 Wages and salaries $ 10,260 15 Utilities $ 1,150 16 Rent $ 2,200 17 Miscellaneous $ 2,085 18 19 Planning budget activity 1,700 meals served 20 Actual activity 1,800 meals served a. What is the activity variance for revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the activity variance for revenue b. What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for the cost of ingredients c. What is spending variance for wages and salaries? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for wages and salaries d. What is spending variance for total expenses? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for total expenses
A1 fx Chapter 9: Applying Excel A В E F G H 1 Chapter 9: Applying Excel 2 3 Data 4 Revenue 5 Cost of ingredients 6 Wages and salaries 7 Utilities 8 Rent $16.00 q $6.50 q $10,000 $800 $0.20 q + $2,200 $600 9 Miscellaneous $0.80 q + 10 11 Actual results: 12 Revenue $27,920 $11,110 13 Cost of ingredients 14 Wages and salaries $10,130 $1,080 $2,200 15 Utilities 16 Rent 17 Miscellaneous $2,240 18 19 Planning budget activity 20 Actual activity 1,800 meals served 1.700 meals served 21 22 Enter a formula into each of the cells marked with a ? below 23 Review Problem: Variance Analysis Using a Flexible Budget 24 25 Construct a flexible budget performance report 26 Revenue 27 and Actual Activity Planning Budget 1,800 $ 28,800 28 Spending Variances Flexible Results Вudget 1,700 $ 27,200 $ 29 Variances 30 Meals served 1,700 31 Revenue 32 Expenses: Cost of ingredients Wages and salaries $27,920 $ 720 F 1,600 U $11,110 $10,130 $1,080 $2,200 $2,240 $26,760 $1,160 $ 11,050 $10,000 33 60 U 650 F 11,700 $10,000 34 130 U 35 Utilities 60 F 1,140 20 F 1,160 Rent $2,200 1,960 36 $2,200 37 Miscellaneous 280 U 80 F 2,040 38 Total expenses 410 U 26,350 $ 750 F 27,100 39 Net operating income 310 F 850 2$ 850 U $ 1,700 40
Transcribed Image Text:A1 fx Chapter 9: Applying Excel A В E F G H 1 Chapter 9: Applying Excel 2 3 Data 4 Revenue 5 Cost of ingredients 6 Wages and salaries 7 Utilities 8 Rent $16.00 q $6.50 q $10,000 $800 $0.20 q + $2,200 $600 9 Miscellaneous $0.80 q + 10 11 Actual results: 12 Revenue $27,920 $11,110 13 Cost of ingredients 14 Wages and salaries $10,130 $1,080 $2,200 15 Utilities 16 Rent 17 Miscellaneous $2,240 18 19 Planning budget activity 20 Actual activity 1,800 meals served 1.700 meals served 21 22 Enter a formula into each of the cells marked with a ? below 23 Review Problem: Variance Analysis Using a Flexible Budget 24 25 Construct a flexible budget performance report 26 Revenue 27 and Actual Activity Planning Budget 1,800 $ 28,800 28 Spending Variances Flexible Results Вudget 1,700 $ 27,200 $ 29 Variances 30 Meals served 1,700 31 Revenue 32 Expenses: Cost of ingredients Wages and salaries $27,920 $ 720 F 1,600 U $11,110 $10,130 $1,080 $2,200 $2,240 $26,760 $1,160 $ 11,050 $10,000 33 60 U 650 F 11,700 $10,000 34 130 U 35 Utilities 60 F 1,140 20 F 1,160 Rent $2,200 1,960 36 $2,200 37 Miscellaneous 280 U 80 F 2,040 38 Total expenses 410 U 26,350 $ 750 F 27,100 39 Net operating income 310 F 850 2$ 850 U $ 1,700 40
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost estimation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS