A B C D E F G J K 3 Data 4 Revenue $16.50 q 5 Cost of ingredients $6.25 q 6 Wages and salaries $10,400 7 Utilities $800 + $0.20 q 8 Rent $2,200 9 Miscellaneous $600 + $0.80 q 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 $2,240 17 Miscellaneous 18 19 Planning budget activity 20 Actual activity 21 1,800 meals served 1,700 meals served 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 28 Actual and Spending 29 Results Variances Flexible Budget Variances 30 Meals served 1,700 31 Revenue $27,920 ? U 1,700 ? Activity Planning Budget 1,800 ? ? 32 Expenses: 33 Cost of ingredients $11,110 ? F ? ? ? 34 Wages and salaries $10,130 ? F ? ? ? 35 Utilities $1,080 ? F ? ? ? 36 Rent $2,200 ? F ? ? ? 37 Miscellaneous $2,240 ? F ? ? ? 38 Total expenses ? ? ? ? ? 39 Net operating income ? ? ? ? ?