a. What is the activity variance for revenue? Note: Indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (i.e., zer variance). Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell 830 enter the formula "=820. Notes: In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell C31 would be "=ABS(E31-B31): Cells D31 through O39 and G31 through G39 already contain formulas to compute and display whether variances are Favorable or Unfavorable. Do not enter data or formulas into those cells-if you do, you will overwrite these formulas. Afrer entering formulas in all of the cells that contained question marks, verify that the amounts match the numbers in the example in the text. Required: 1. Check your worksheet by changing the revenue in cell D4 to $16.00; the cost of ingredients in cell D5 to $6.50; and the wages and salaries in cell B6 to $10,000. The activity variance for net operating income should now be $850U and the Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget d. What is spending variance for total expenses? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Required: 1. Check your worksheet by changing the revenue in cell D4 to $16.00; the cost of ingredients in cell D5 to $6.50; and the wages and salaries in cell B6 to $10,000. The activity variance for net operating income should now be $850U and the spending variance for total expenses should be $410U. If you do not get these answers, find the errors in your worksheet and correct them Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2. Required information c. What is spending variance for wages and salaries? Note: Indicate the effect of each variance by selecting " F " for favorable, " U " for unfavorable, and "None" for no effect (li.e., zero variance). b. What is the spending variance for the cost of ingrectients? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Construct a flexible budget performance report a. What is the activity variance for revenue? Note: Indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (i.e., zer variance). Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell 830 enter the formula "=820. Notes: In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell C31 would be "=ABS(E31-B31): Cells D31 through O39 and G31 through G39 already contain formulas to compute and display whether variances are Favorable or Unfavorable. Do not enter data or formulas into those cells-if you do, you will overwrite these formulas. Afrer entering formulas in all of the cells that contained question marks, verify that the amounts match the numbers in the example in the text. Required: 1. Check your worksheet by changing the revenue in cell D4 to $16.00; the cost of ingredients in cell D5 to $6.50; and the wages and salaries in cell B6 to $10,000. The activity variance for net operating income should now be $850U and the Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget d. What is spending variance for total expenses? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Required: 1. Check your worksheet by changing the revenue in cell D4 to $16.00; the cost of ingredients in cell D5 to $6.50; and the wages and salaries in cell B6 to $10,000. The activity variance for net operating income should now be $850U and the spending variance for total expenses should be $410U. If you do not get these answers, find the errors in your worksheet and correct them Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2. Required information c. What is spending variance for wages and salaries? Note: Indicate the effect of each variance by selecting " F " for favorable, " U " for unfavorable, and "None" for no effect (li.e., zero variance). b. What is the spending variance for the cost of ingrectients? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Construct a flexible budget performance report