A В D E F G H 1 Chapter 9: Applying Excel 2 3 Data $16.00 q $6.50 q 4 Revenue 5 Cost of ingredients 6 Wages and salaries 7 Utilities $10,000 $800 $2,200 $600 $0.20 q 8 Rent 9 Miscellaneous $0.80 q + 10 11 Actual results: 12 Revenue 13 Cost of ingredients 14 Wages and salaries 15 Utilities $27,920 $11,110 $10,130 $1,080 $2,200 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 Results Flexible Spending Variances Activity Budget Variances Planning Budget 28 29 30 Meals served 31 Revenue ? 32 Expenses: Cost of ingredients Wages and salaries Utilities 33 ? 34 ? 35 ? ? ? 36 Rent ? ? 37 Miscellaneous ? ? ? ? 38 Total expenses 39 Net operating income ? ? ? ? ? ?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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If someone can help me as well as include the excel formulas I will give a thumbs up. Please include the excel formulas. Thanks! :)

For example, in cell B30 enter the formula "= B20".
Notes:
In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell C31 would be
"=ABS(E31-B31)".
Cells D31 through D39 and G31 through G39 already contain formulas to compute and display whether variances are Favorable or Unfavorable. Do not enter data or
formulas into those cells-if you do, you will overwrite these formulas.
After entering formulas in all of the cells that contained
estion marks, verify that the amounts match the numbers in the exa
ple 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 wages and salaries in cell B6 to $10,00O. The
activity variance for net operating income should now be $850 U and the spending variance for total expenses should be $410 U. If you do not get these answers, find the
errors in your worksheet and correct them.
Transcribed Image Text:For example, in cell B30 enter the formula "= B20". Notes: In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell C31 would be "=ABS(E31-B31)". Cells D31 through D39 and G31 through G39 already contain formulas to compute and display whether variances are Favorable or Unfavorable. Do not enter data or formulas into those cells-if you do, you will overwrite these formulas. After entering formulas in all of the cells that contained estion marks, verify that the amounts match the numbers in the exa ple 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 wages and salaries in cell B6 to $10,00O. The activity variance for net operating income should now be $850 U and the spending variance for total expenses should be $410 U. If you do not get these answers, find the errors in your worksheet and correct them.
x fx
Chapter 9: Applying Excel
A1
A
В
C
E
F
H.
1 Chapter 9: Applying Excel
2
3 Data
$16.00 q
$6.50 q
4 Revenue
5 Cost of ingredients
6 Wages and salaries
7 Utilities
$10,000
$800
$2,200
$600
$0.20 q
8 Rent
9 Miscellaneous
$0.80 q
+
10
11 Actual results:
12 Revenue
13 Cost of ingredients
14 Wages and salaries
$27,920
$11,110
$10,130
$1,080
$2,200
$2,240
15 Utilities
16 Rent
17 Miscellaneous
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
Activity
Budget Variances
Actual
Spending
Flexible
Planning
Budget
28
29
Results
Variances
30 Meals served
?
31 Revenue
?
?
?
?
32 Expenses:
Cost of ingredients
Wages and salaries
33
?
?
?
34
?
?
?
35
Utilities
?
?
36
Rent
?
?
?
?
?
Miscellaneous
38 Total expenses
39 Net operating income
37
?
?
?
?
?
?
?
?
?
?
?
40
Transcribed Image Text:x fx Chapter 9: Applying Excel A1 A В C E F H. 1 Chapter 9: Applying Excel 2 3 Data $16.00 q $6.50 q 4 Revenue 5 Cost of ingredients 6 Wages and salaries 7 Utilities $10,000 $800 $2,200 $600 $0.20 q 8 Rent 9 Miscellaneous $0.80 q + 10 11 Actual results: 12 Revenue 13 Cost of ingredients 14 Wages and salaries $27,920 $11,110 $10,130 $1,080 $2,200 $2,240 15 Utilities 16 Rent 17 Miscellaneous 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 Activity Budget Variances Actual Spending Flexible Planning Budget 28 29 Results Variances 30 Meals served ? 31 Revenue ? ? ? ? 32 Expenses: Cost of ingredients Wages and salaries 33 ? ? ? 34 ? ? ? 35 Utilities ? ? 36 Rent ? ? ? ? ? Miscellaneous 38 Total expenses 39 Net operating income 37 ? ? ? ? ? ? ? ? ? ? ? 40
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