3,560 F 13 Revenue 36,000 $ 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 Rent 5,000 5,000 21 Total expense 26,700 29,480 22 Net operating income 2,300 $ 10,080 23 Food costs, party supplies and party worker wages are variable costs 24 Administrative salaries, equipment depreciation and rent are fixed costs. 1,448 U 204 U 1,328 U 200 F - None None 2,780 U 780 F 1,200 $ 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 U (using capital letters). 28 if there is no variance, enter the word None. 28 If there is no variance, enter the word None. Perfect Parties Birthday Party Division Flexible Budget Performance Report For the Month Ended June 30 Planning Budget Flexible Budget Activity Variances Revenue and Spending Variances Actual Results 34 Number of parties 36 Revenues 37 Expenses 38 Food costs 39 Party supplies 40 Party worker wages Administrative salaries Equipment depreciation Rent 44 Total expense 45 Net operating income