? 0 12 Preparing a Performance Report - Excel FORMULAS DATA REVIEW FILE HOME INSERT PAGE LAYOUT VIEW Sign In X Calibri -11 -A A 96 M Paste B Cells Editing 8 Doints Alignment Number Conditional Format as Cell Formatting Table Styles Styles Gipboard Font 115 U eBook E F G H . Print 0 Perfect Parties, Inc. has several divisions. One division provides birthday parties at their facility. 2 Each party sold provides entertainment, decorations, food, and party favors for 10 children The bookkeeper has prepared a report comparing actual results for the month of June to budgeted results. Perfect Parties Birthday Party Division Analysis of Revenues and Costs For the Month Ended June 30 4 5 References 7 8 Variances $ 3,560 Planning 9 Budget Actual Results 10 11 Number of parties 80 92 12 13 Revenue $ 36,000 S 39,560 14 Expenses: 15 | Food costs 7,200 8,648 16 Party supplies 3,200 3,404 17 Party worker wages 6,400 7,728 18 Administrative salaries 3,700 3,500 19 Equipment depreciation 1,200 1.200 20 Rent 5,000 5.000 21 Total expense 26,700 29,480 22 Net operating income S 9,300 $ 10,080 23 Food costs, party supplies and oarty worker wages are variable costs Sheet1 1,448 U 204 U 1,328 0 200 F None None 2,780 0 780F $ ED 100% READY Attemptis) rences 25 Food costs, party supplies and party worker wages are variable costs. 24 Administrative salaries, equipment depreciation and rent are fixed costs. 25 26. Prepare a new report for June using the flexible budget approach. 27 Enter all variances as positive amounts. If there is a variance, write an IF statements to indicate if it is For (using capital letters). 28 If there is no variance, enter the word None. 3 Planning Budget Flexible Budget Revenue and Spending Variances Actual Results Activity Variances 34 Number of parties 35 36 Revenues 37 Expenses: 38 Food costs 39 Party supplies 40 Party worker wages 41 Administrative salaries 42 Equipment depreciation 43 Rent 44 Total expense 45 Net operating income 46