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Data Revenue $16.50 q Cost of ingredients $6.25 q Wages and salaries $10,400 Utilities $800 + $0.20 q Rent Miscellaneous $2,200 $600 + $0.80 q Actual results: Revenue $27,920 Cost of ingredients $11,110 Wages and salaries $10,130 Utilities $1,080 Rent $2,200 Miscellaneous $2,240 Planning budget activity 1,800 meals served Actual activity 1,700 meals served Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible budget performance report Meals served Actual Revenue and Spending Flexible Results Variances Budget Variances ? ? ? Activity Planning Budget ? ? ? ? ? Revenue Expenses: Cost of ingredients ? ? ? ? ? Wages and salaries ? ? ? ? ? Utilities ? ? ? ? ? Rent ? ? ? ? ? Miscellaneous ? ? ? ? ? Total expenses ? ? ? ? Net operating income ? ? ? ?

Data Revenue $16.50 q Cost of ingredients $6.25 q Wages and salaries $10,400 Utilities $800 + $0.20 q Rent Miscellaneous $2,200 $600 + $0.80 q Actual results: Revenue $27,920 Cost of ingredients $11,110 Wages and salaries $10,130 Utilities $1,080 Rent $2,200 Miscellaneous $2,240 Planning budget activity 1,800 meals served Actual activity 1,700 meals served Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible budget performance report Meals served Actual Revenue and Spending Flexible Results Variances Budget Variances ? ? ? Activity Planning Budget ? ? ? ? ? Revenue Expenses: Cost of ingredients ? ? ? ? ? Wages and salaries ? ? ? ? ? Utilities ? ? ? ? ? Rent ? ? ? ? ? Miscellaneous ? ? ? ? ? Total expenses ? ? ? ? Net operating income ? ? ? ?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Chapter 9: Applying Excel Data Revenue Cost of ingredients Wages and salaries Utilities Rent $16.50 q $6.25 q $10,400 $800 + $0.20 q $2,200 $600 + $0.80 q Miscellaneous Actual results: Revenue $27,920 Cost of ingredients $11,110 Wages and salaries $10,130 Utilities $1,080 Rent $2,200 Miscellaneous $2,240 Planning budget activity 1,800 meals served Actual activity 1,700 meals served Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible budget performance report Revenue and Actual Spending Flexible Activity Planning Results Variances Budget Variances Budget Meals served ? ? ? Revenue ? ? ? ? ? Expenses: Cost of ingredients ? ? ? ? ? Wages and salaries ? ? ? ? ? ? ? ? ? ? Utilities ? ? ? ? ? Rent Miscellaneous ? ? ? ? ? ? ? ? ? ? Total expenses Net operating income ? ? ? ? ?
Transcribed Image Text:Chapter 9: Applying Excel Data Revenue Cost of ingredients Wages and salaries Utilities Rent $16.50 q $6.25 q $10,400 $800 + $0.20 q $2,200 $600 + $0.80 q Miscellaneous Actual results: Revenue $27,920 Cost of ingredients $11,110 Wages and salaries $10,130 Utilities $1,080 Rent $2,200 Miscellaneous $2,240 Planning budget activity 1,800 meals served Actual activity 1,700 meals served Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible budget performance report Revenue and Actual Spending Flexible Activity Planning Results Variances Budget Variances Budget Meals served ? ? ? Revenue ? ? ? ? ? Expenses: Cost of ingredients ? ? ? ? ? Wages and salaries ? ? ? ? ? ? ? ? ? ? Utilities ? ? ? ? ? Rent Miscellaneous ? ? ? ? ? ? ? ? ? ? Total expenses Net operating income ? ? ? ? ?
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