Cajun Fast, an independently owned restaurant chain, specializes in Cajun cuisine fast food. Following is a partial performance report that a Cajun Fast manager has been working on using Excel.

Requirements
1. Using the Excel file provided in MyLab Accounting, complete the VARIANCE column. Use the absolute reference function so that the variance displays as a positive number.
2. In that same Excel worksheet, complete “F or U” column using the IF function. If the variance in a given row is favorable, an “F” should display in the variance’s row in Column E. If the variance is unfavorable, a “U” should display in the variance’s row in Column E.
3. Which revenue variances are favorable?
4. Which expense variances are favorable?
5. If the company has a policy that all variances greater than $2,000 should be evaluated, which variances should be investigated?

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1 234567∞ o Sales Revenue: In-house dining Customer pick-up Uber Eats In-house delivery Food truck sales Event catering 9 Expenses: 10 Ingredients Server wages 11 12 Kitchen wages 8 $ $ $ $ $ $ B ACTUAL 803,705 $ 142,937 $ 68,449 $ 27,273 $ 97,560 $ 65,512 $ 739,842 $ 144,307 $ 50,582 $ с BUDGET 739,000 114,000 62,500 35,700 111,000 47,000 721,000 128,000 56,000 D VARIANCE E For U