1234567899 C F G Perfect Parties, Inc. has several divisions. One division provides birthday parties at their facility. 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 Planning Actual Budget Results Variances 10 Number of parties 80 92 11 Revenue $36,000 $39,560 $3,560 F 12 Expenses: 13 Food costs 7,200 8,648 1,448 U 14 Party supplies 3,200 3,404 204 U 15 Party worker wages 6,400 7,728 1,328 U 16 Administrative salaries 3,700 3,500 200 F 17 Equipment depreciation 1,200 1,200 0 None 18 Rent 5,000 5,000 O None 19 Total expense 26,700 29,480 2,780 U 20 Net operating income $9,300 $10,080 $780 F 21 22 Food costs, party supplies, and party worker wages are variable costs. Administrative salaries, equipment depreciation, and rent are fixed costs. 23 24 Required: 25 Prepare a new report for June using the flexible budget approach. 26 27 29 28 Enter all variances as positive amounts. Leave no cells blank. (Use cells A10 to E20 from the given information, as well as A34 to H44 to complete this question.) 30 31 32 33 34 Number of parties Perfect Parties Birthday Party Division Flexible Budget Performance Report 35 Revenues 36 Expenses: 37 Food costs 38 Party supplies 39 40 41 42 Party worker wages Administrative salaries Equipment depreciation Rent 43 Total expense 44 Net operating income 45 For the Month Ended June 30 Planning Budget Variances Activity Flexible Budget Revenue and Spending Variances Actual Results