+ 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 Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: B D E A Chapter 9: Applying Excel 1 2 4 $ $ $ 16.50 9 6.259 HA 3 Data 4 Revenue 5 Cost of ingredients 6 Wages and salaries 7 Utilities Rent 9 Miscellaneous GA + $ 0.209 $ $ $ $ 10,400 800 2,200 600 00 HA + $ 0.80 9 10 $ HA $ $ 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 $ $ $ $ 30,130 11,355 10,230 1,140 2,200 2,060 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 (i.e., zero variance)). The amount of the spending variance for total expenses
