AutoSave Off H Acct 202 - Project 5 - Flexible Budget - Excel Search (Alt+Q) Izabelle R Perez IR X File Home Insert Page Layout Formulas Data Review View Help Comments Share H35 : XVfx A C D E F G H J K 27 28 2. To add numbers, put your cursor on the cell where you want Kelsey's Frozen Confectionaries 29 the answer to be. Then type in an equal sign (=) and then click on Fexible Budget Performance Report 30 the cell you want add, then keystroke the addition sign (+) and For the month ended June 30 31 click on the second cell you want to add. Continue in the same fashion for multiple cells. MASTER 32 ACTUAL FLEXIBLE BUDGET BUDGET Use the subtraction sign (-) for subtracting cells. If you have an 33 Volume (in cases) 21,460 21,460 20,000 array of cells to add, you can use the AutoSum button on the 34 ribbon. 35 Sales Revenue $ 1,131,020 $ 1,000,000.00 36 3. To multiply, use the * symbol. To divide, use the / symbol. Less Variable Expenses: 37 Cost of Goods Sold 682,880 600,000.00 38 4. When you want to copy a formula to adjacent cells, simply Sales Commissions 58,685 50,000.00 39 double click on the Fill Handle (little green square in bottom right- Shipping Expense 44,213 40,000.00 40 hand corner of cell) or drag the Fill Handle to the adjacent cells. Bad debt expense 16,930 9,000.00 41 Contribution Margin 328,312 301,000.00 5. Always check the logic of your results after entering formulas to 42 make sure the spreadsheet is doing what you really want it to do. Less Fixed Expenses: 43 Salaries 43,000 40,000 44 Lease on Distn center 15,500 17,000 45 Deprec. on fleet/equip 12,000 12,000 46 Advertising 7,750 10,000 47 Office rent, phone, net 12,300 11,000 48 Operating Income $ 237,762 211,000.00 49 50 51 > Directions Performance Report + Enter + 100% 550F 6:41 PM O ? W () O 12/2/2022 CloudyE AutaSave (. fo') ActhlJZr ProJectSr Flexible Budget . Excel P Search IzabelleRPerez IF. File Home insert Page Layout Formulas Data Review View Help Shape Format F Comments TextBox 3 v E I} V A B C D E F G H J K L M N O P A WWUWWWWWW. ; 73 74 4] Build the Flexible Budget by using the ACTUAL SALES VOLUME achieved along with the or nal budget assumptions. This is 75 very similar to building a master budget. except you are using actual sales volume. Assume the actual sales volume achieved is 76 in the same relevant range as the original budget assumptions. 77 73 5] Try using the \"accounting\" or "currency" settings to get dollar signs, ccimmas, and brackets on negative numbers. Add 79 underlines and double underlines as needed. Remove any decimals. an ' 81 6] Head the appropriate column for the Volume Variance and then use Excel formulas to populate the cells in that column (e.g., 82 +H 337133). Once you get the rst cell done, copy and paste [or drag) the formula to the other cells. 53 7] Head the appropriate column for the Flexible Budget Variance and then use Excel formulas to populate the cells in that 54 column (e.g. +F33H33]. Again, copy and paste the formulas to the other cells. 85 as 3] Use the following check gures to check your fonriulas so far: 87 Shipping Expense: $44,213 $1,293 $42,920 $2,920 $40,000 88 : EB 9] Format cells appropriately. Attention to detail makes a report look more professional. [For example, dollar signs using the ' accounting or currency format, underlines and double underlines where appropriate, zero decimal places for dollar amounts, g0 etc.,]. 91 92 10} To save time, we won't add the U and F designations to the exible budget performance report. However, you'll need to 93 mentally gure out which way they go. The interpretation of the volume variance is a little problematic because it compares 9:1. two budgets, rather than budget vs. actual. HINT: Thinkofthe MASTER BUDGET as the oompanfs target when determining 95 whether the volume variance should be designated as a U or F. 95 E7 93 , , v Directions Performance Report + 4 9 Ready El J-l I + 100% rs 6:41 PM 1172,2022 o a. -,_ '3'- :.1I: [D