Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

+ 1 Chapter 9: Applying Excel 2 3 Data 4 Revenue $16.50 5 Cost of ingredients $6.25 9 6 Wages and salaries $10,400 7 Utilities

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

+ 1 Chapter 9: Applying Excel 2 3 Data 4 Revenue $16.50 5 Cost of ingredients $6.25 9 6 Wages and salaries $10,400 7 Utilities $800 + $0.20 a 8 Rent $2,200 9 Miscellaneous $600 $0.80 9 10 11 Actual results: 12 Revenue $27,920 13 Cost of ingredients $11, 110 14 Wages and salaries $10,130 15 Utilities $1,080 16 Rent $2,200 17 Miscellaneous $2,240 18 19 Planning budget activity 1,800 meals served 20 Actual activity 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 28 Actual Spending Flexible Activity 29 Results Variances Budget Variances 30 Meals served ? ? 31 Revenue ? ? ? ? 32 Expenses: 33 Cost of ingredients ? ? ? ? 34 Wages and salaries ? ? ? ? 35 Utilities ? ? ? ? 36 Rent ? ? ? 37 Miscellaneous ? ? ? ? 38 Total expenses ? ? ? ? 39 Net operating income ? ? ? ? 40 41 42 43 Planning Budget ? ? . ? ? ? ? ? ? ? 14 Required information The Chapter 9 Form worksheet is to be used to create your own worksheet version of the Review Problem example in the text. . Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: B D E A A Chapter 9: Applying Excel 1 2 3 Data $ 16.509 6.259 $ $ $ 10,400 800 2,200 + $ 0.209 8 $ $ 600 + $ 0.80 9 4 Revenue 5 Cost of ingredients 6 Wages and salaries 7 Utilities Rent 9 Miscellaneous 10 11 Actual results: 12 Revenue 13 Cost of ingredients 14 Wages and salaries 15 Utilities 16 Rent 17 Miscellaneous 18 19 Planning budget activity 20 Actual activity $ 30,285 $ $ $ 11,200 10,510 1,135 2,200 2,000 $ $ 1,700 meals served 1,800 meals served a. What is the activity variance for revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the activity variance for revenue b. What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for the cost of ingredients c. What is spending variance for wages and salaries? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for wages and salaries d. What is spending variance for total expenses? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance)). The amount of the spending variance for total expenses

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Comparative international accounting

Authors: Christopher nobes, Robert parker

9th Edition

273703579, 978-0273703570

More Books

Students also viewed these Accounting questions

Question

How many moles of water are there in 1.000 L? How many molecules?

Answered: 1 week ago

Question

Journal entry of cash in exchange for common stok

Answered: 1 week ago