Perfect Parties, Inc. has several divislons, one of which provides birthday parties at their facility, and has provided the actual and planning budgetresults for the month of June. The Controller has asked you prepare the Birthday Party Dlvislon Budget Performance Report. Use the InformationIncluded in the Excel Simulation and the Excel functions described below to complete the task.• Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, "=E11" wasentered, the formula would output the result from cell E11, or 80 In this example.• Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: - (plussign to add), - (minus sign to subtract). * (asterisk sign to multiply), and (forward slash to divide). From the Excel Simulation below, If in ablank cell "=E13-F13" was entered, the formula would add the values from those cells and output the result or 75,560 In this example. Ifusing the other math symbols the result would output an appropriate answer for Its function.• SUM function: Allows you to refer to multiple cells and adds all the values. You can add Individual cell references or ranges to utilize thisfunction. From the Excel Simulation below, if in a blank cell =SUME16,E17,E18)" was entered, the formula would output the result of addingthose three separate cells, or 13,300 In this example. Simlarly. If In a blank cell "=SUM(E16:E18)" was entered, the formula would output thesame result of adding those cells, except they are expressed as a range In the formula, and the result would be 13.300 In this example.• ABS function: Allows you to return the absolute value of a number or calculation. You can reference any cell to display its absolute value, orsurround another formula with the ABS function, to return the final result as an absolute value. From the Excel Simulation below, you can seeIn cell H18 that the ABS function Is belng used. =ABS(F18-E18)" whlch first calculates the subtraction of F18-E18 that results in -200. Then,the ABS portion of the formula returns the absolute value of the subtraction result, which would be 200 in this example.• IF function: Allows you to test a condition and return a specific value is the result is true and different value if the result is false. The syntax ofthe IF function Is "=IFitest_condition,value_true.value__faiser and specific conslderations need to be made when using this function. Thetest condition argument is an evaluatlon of the status of a cell, such as if the value of a cell is greater than, less than, or equal to anothernumber or cell The value_true and value_false arguments wlll return any specific result for each option, such as another cell reference.a value, or text. Throughout the entire equation, Iftext is belng used in the test_condition, value_Ctrue, or value__faise arguments thenthe text itseif should be entered In quotations so that Excel will recognize the text as a "string of text" Instead of another function. From theExcel Simulation below, If In a blank cell IF(E13>30000,"Revenue is good","Revenue is bad") was entered, the formula would output theresult of the value__true since the testcondition would be result as true, or in this case the text "Revenue is good". Excel processes the IFfunction by separating it out Into separate parts. First the test_condition - Excel thinks, find cell E13 and determine if the value is greaterthan 30.000. Once Excel determines if the result of that test_condition is TRUE or FALSE, It will return the value_Ltrue or value_faise.Preparing a Performance Report - ExcelALEHOMEINSERTPAGE LAYOUTFORMULASDATAREVIEWVEWSign InCalibri11-A AAlignment Number Conditional Farmat as CellFormatting Table- StylesPasteBIU.CellsClipboardFontStylesA1Perfect Parties, Inc. has several divisions. One division provides birthday partiesDFGHK1 Perfect Parties, Inc. has several divisions. One division provides birthday parties at their facility.2 Esch party sold provides entertainment, decorations, food, and party favors for 10 children.3 The bookkeeper has prepared a report comparing actual results for the month of June to budgeted results.Perfect PartlesBirthday Party Division Analysis of Revenues and CostsFor the Month Ended June 30PlanningBudgetActual ResultsVariances1011 Number of partles80921213 Revenue36,000 $3,560 F14 Expenses:15 Food costs7,2003,2008,6483,4041,448 U16 Party supplies17 Party worker wages18 Administrative salaries19 Equipment depreciation20 Rent21 Total expense204 U6,4007,7281,328 U3,7003,500200 F1,2001,200None5,0005,000None26,7009,300 S29,48010,0802,780 U|22 Net operating income780 F23 Food costs partv unnlies and narty worker waees are variahle costsSheet 1READY100%Attempt(s)HintShow Me

The question is based on the concept of Budgeting.

Perfect Partles, Inc. has several divislons, one of wihich provides birtnday partles at thelr facllity, and has provided the actual and planning budget results for the month of June. The Controller has asked you prepare the Birthday Party DMslon Buoget Performance Report. Use the information Included In the Excel Simulation and the Excel functions described below to complete the task. Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, Ifin a blank cell, =E1r was entered, the formula would output the result from cell EL, or 80 in this example. • Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: - (plus sign to ada). - (minus sign to subtract). * (asterisk sign to multiply), and rorward slash to divide). From the Excel Simulatlon below, IMin a blank cell E3-PIS" was entered, the formula would add the values from those cels and output the resuit or 75.560 in this example. ir using the other math symbols the result would output an appropriate answer for its function. • SUM function: Allows you to refer to muitiple cells and adds all the values. You can add individual cell references or ranges to utlize tnis function. From the Excel Simulation below, Ifin a blank cell=SUME16.E17E18)" was entered, the formula would output the result of adding those three separate cells, or 13.300 in this example. Similiary, Ir in a blank cell=SUME16E18)" was entered, the formula would output the same result of acding those cells, except they are expressed as a range in the formula, and the result would be 13.300 in this example. ABS function: Allows you to return the absolute value of a number or calculation. You can reference any cell to display Its absolute value, or surround another formula with the ABS function, to return the final result as an absolute value. From the Excel Simulation below, you can see In cell H18 that the ABS function is being used. =ABS FI8-E18)" whlch first calculates the subtraction of F18-E18 that results in -200. Tnen. the ABS portlon of the formula returns the absolute value of the subtraction result, which would be 200 In this example. • IF function Allows you to test a condtion and return a specific value is the result is true and cifferent value if the result is false. The syntax of the IF function is=Fitest_condition,value_true.value_taiser and specific considerations need to be made when using tnis function. The test_condition argument is an evaluation of the status of a cell, such as if the value of a cell is grester than, less than, or equal to another number or cell The value_tue and value_aise arguments will return any specific result for each option, such as anotner cell reference. a value, or text Throughout the entire equation, irtext is being used in the test conaition, value_true, or value_alse arguments then the text itseif should be entered In quotations so tnat Excel will recognize the text as a "string of text Instead of another function. From the