can you please solve it on a excel sheet with formulas. thank you

Budget for the year 2021: The budget for the year 2021 was prepared in December 2020. had the following components: 1P age MGMT 8501: BUDGET ASSIGNMENT - S22 Revenue: The revenue is calculated as number of hours that the crew works on a site, multiplied by the contracted rate with the client. The hours worked in both the segments are shown separately, and there is a total for the combined hours worked. The revenue for each segment is arrived at by multiplying the hours for the segment by the rate. The budget is prepared for four quarters, one to four. For the first quarter of 2021 , the budgeted sales hours and hourly revenue were: For quarters two, three and four it was projected that: - Budgeted sales in hours for both the segments will increase at the rate of 4% on a quarter over quarter basis. - Budgeted selling rate will increase at 3% on a quarter over quarter basis for the Hotel segment L and 4% on a quarter over quarter basis for the Motel segment. Direct Labour expense: JenProClean will pay its employees an hourly rate of $20 for the entire year. Cleaning supply usage: The budgeted usage is 0.2 litre / labour hour for the Hotel segment and 0.1 litre/ labour hour for the Motel segment. This is constant for the entire year. Cleaning supply expense: Budgeted expense is $5.5 per liter for the entire year. Fixed overhead: In order to support the cleaning operations, Following cost as overheads and their budgeted expenses are as follows: 2 | P age MGMT 8501: BUDGET ASSIGNMENT - S22 Receptionist: Budgeted expense is $6000 for first 2 quarters and then increase by 2% increase in last 2 qua Depreciation: MGMT 8501: BUDGET ASSIGNMENT - $22 Receptionist: Budgeted expense is $6000 for first 2 quarters and then increase by 2% increase in last 2 quarters. Depreciation: This relates to the depreciation of vehicles used to transport employees to client locations. Budgeted expense is $9000 per quarter and is the same for all four quarters. Gas: Budgeted expenditure on gas is $7000 first 2 quarters and then increase by 2% increase in last 2 quarters. Office Supplies: Budgeted expenditure on Office Supplies is $1000 per quarter and is the same for all four quarters. General Administration: Budgeted expenditure on general admin is $5000 and is the same for all four quarters. Actual results for the year 2021. It is now January 7, 2021, and JenProClean is comparing the actual expenses against their budget. Here is what they found. Revenue: For the first quarter of 2021 , the actual sales hours and hourly revenue were: ror quarters two, three and tour it was noticed that: Hotel: - Actual sales recorded a 5% increase in Q2 over Q1. Q3 was 3% higher than Q2. Q4 was 2% higher than Q3. 3 | Page MGMT 8501: BUDGET ASSIGNMENT - S22 Motel: - Actual sales recorded a 5\% increase in Q2 over Q1. Q3 was 3\% higher than Q2. Q4 was 2\% higher than Q3. Direct Labour expense: JenProClean paid its employees an hourly rate of $18 for the entire year. Cleaning supply usage: The actual usage was 0.18 litre / labour hour for the Hotel segment and 0.09 litre/ labour hour Motel segment. This was constant for the entire year. Cleaning supply expense: Actual expense was $5.50 per liter for the entire year. Motel: - Actual sales recorded a 5\% increase in Q2 over Q1. Q3 was 3\% higher than Q2. Q4 was 2% higher than Q3. Direct Labour expense: JenProClean paid its employees an hourly rate of $18 for the entire year. Cleaning supply usage: The actual usage was 0.18 litre / labour hour for the Hotel segment and 0.09 litre/ labour hour for the Motel segment. This was constant for the entire year. Cleaning supply expense: Actual expense was $5.50 per liter for the entire year. Fixed overhead: Actual expenses are as follows: Receptionist: Actual expense was paid $6,500 first 2 quarters and then increase by 2% increase in last 2 quarters. Depreciation: Depreciation on vehicles used for transportation to clients' sites, was $9,200 for all four quarters. Gas: Actual expenditure on gas was $7,200 first 2 quarters and then increase by 1% increase in last 2 quarters.. Office Supplies: Actual expenditure on Office Supplies was \$1,300 per quarter and was the same for all four quarters. General Administration: Budgeted expenditure on general admin is $5,500 for all 4 quarters. Unproductive (unbilled) factor: Cleaning crews had to work 9% over the revenue generating hours to attend to complaints and do a second cleaning. These hours were not billable to clients, but JenProClean would pay the employees for this time they worked. 4|Page MGMT 8501: BUDGET ASSIGNMENT - S22 Information for other budgets: - 40% of total sales is cash sales. Remaining 60% are credit sales; of which 60% clients pays in same month, 40% clients pay following quarter of sale, AR balance as on Dec 31,2020 is $15,000. - JenProClean pays to their vendors for materials purchased as follows. 70% of purchase will be paid in same month, 30% will be paid in following quarter. AP balance as on Dec31,2020 is $5,000. Required: Part A: For part A, you will use the Excel template. Complete the steps in sequence: Information for other budgets: - 40% of total sales is cash sales. Remaining 60% are credit sales; of which 60% clients pays in same month, 40% clients pay following quarter of sale, AR balance as on Dec 31,2020 is $15,000. - JenProClean pays to their vendors for materials purchased as follows. 70% of purchase will be paid in same month, 30% will be paid in following quarter. AP balance as on Dec 31,2020 is $5,000. Required: Part A: For part A, you will use the Excel template. Complete the steps in sequence: MGMT 8501: BUDGET ASSIGNMENT - S22 For all other spreadsheets, you must use cell references, linking data from 'Input Database' and formulas. Other guidelines: - Data should be entered in the 'Input Database' spreadsheet only. - For all other spreadsheets, you must use cell references, linking data from 'Input Database' or other spreadsheets. Do not enter data or calculations without cell references. - To calculate variances, you need to use 'IF' formula. Part B: - The CEO is concerned regarding ethical practices and needs your advice. In your role as a c write a memo explaining: -What 'budgetary slack' is? - Possible budgetary items where 'budgetary slack can be applied?' - Structure of the memo: MGMT 8501: BUDGET ASSIGNMENT - S22 For all other spreadsheets, you must use cell references, linking data from 'Input Database' and formulas. Other guidelines: - Data should be entered in the 'Input Database' spreadsheet only. - For all other spreadsheets, you must use cell references, linking data from 'Input Database' or other spreadsheets. Do not enter data or calculations without cell references. - To calculate variances, you need to use 'IF' formula. Part B: - The CEO is concerned regarding ethical practices and needs your advice. In your role as a consultant, write a memo explaining: What 'budgetary slack' is? - Possible budgetary items where 'budgetary slack can be applied?' - Structure of the memo: - APA format of word document, maximum 2 pages. - Arial or Calibri font - Memo format - Memo will be verified through Turnitin. Budget for the year 2021: The budget for the year 2021 was prepared in December 2020. had the following components: 1P age MGMT 8501: BUDGET ASSIGNMENT - S22 Revenue: The revenue is calculated as number of hours that the crew works on a site, multiplied by the contracted rate with the client. The hours worked in both the segments are shown separately, and there is a total for the combined hours worked. The revenue for each segment is arrived at by multiplying the hours for the segment by the rate. The budget is prepared for four quarters, one to four. For the first quarter of 2021 , the budgeted sales hours and hourly revenue were: For quarters two, three and four it was projected that: - Budgeted sales in hours for both the segments will increase at the rate of 4% on a quarter over quarter basis. - Budgeted selling rate will increase at 3% on a quarter over quarter basis for the Hotel segment L and 4% on a quarter over quarter basis for the Motel segment. Direct Labour expense: JenProClean will pay its employees an hourly rate of $20 for the entire year. Cleaning supply usage: The budgeted usage is 0.2 litre / labour hour for the Hotel segment and 0.1 litre/ labour hour for the Motel segment. This is constant for the entire year. Cleaning supply expense: Budgeted expense is $5.5 per liter for the entire year. Fixed overhead: In order to support the cleaning operations, Following cost as overheads and their budgeted expenses are as follows: 2 | P age MGMT 8501: BUDGET ASSIGNMENT - S22 Receptionist: Budgeted expense is $6000 for first 2 quarters and then increase by 2% increase in last 2 qua Depreciation: MGMT 8501: BUDGET ASSIGNMENT - $22 Receptionist: Budgeted expense is $6000 for first 2 quarters and then increase by 2% increase in last 2 quarters. Depreciation: This relates to the depreciation of vehicles used to transport employees to client locations. Budgeted expense is $9000 per quarter and is the same for all four quarters. Gas: Budgeted expenditure on gas is $7000 first 2 quarters and then increase by 2% increase in last 2 quarters. Office Supplies: Budgeted expenditure on Office Supplies is $1000 per quarter and is the same for all four quarters. General Administration: Budgeted expenditure on general admin is $5000 and is the same for all four quarters. Actual results for the year 2021. It is now January 7, 2021, and JenProClean is comparing the actual expenses against their budget. Here is what they found. Revenue: For the first quarter of 2021 , the actual sales hours and hourly revenue were: ror quarters two, three and tour it was noticed that: Hotel: - Actual sales recorded a 5% increase in Q2 over Q1. Q3 was 3% higher than Q2. Q4 was 2% higher than Q3. 3 | Page MGMT 8501: BUDGET ASSIGNMENT - S22 Motel: - Actual sales recorded a 5\% increase in Q2 over Q1. Q3 was 3\% higher than Q2. Q4 was 2\% higher than Q3. Direct Labour expense: JenProClean paid its employees an hourly rate of $18 for the entire year. Cleaning supply usage: The actual usage was 0.18 litre / labour hour for the Hotel segment and 0.09 litre/ labour hour Motel segment. This was constant for the entire year. Cleaning supply expense: Actual expense was $5.50 per liter for the entire year. Motel: - Actual sales recorded a 5\% increase in Q2 over Q1. Q3 was 3\% higher than Q2. Q4 was 2% higher than Q3. Direct Labour expense: JenProClean paid its employees an hourly rate of $18 for the entire year. Cleaning supply usage: The actual usage was 0.18 litre / labour hour for the Hotel segment and 0.09 litre/ labour hour for the Motel segment. This was constant for the entire year. Cleaning supply expense: Actual expense was $5.50 per liter for the entire year. Fixed overhead: Actual expenses are as follows: Receptionist: Actual expense was paid $6,500 first 2 quarters and then increase by 2% increase in last 2 quarters. Depreciation: Depreciation on vehicles used for transportation to clients' sites, was $9,200 for all four quarters. Gas: Actual expenditure on gas was $7,200 first 2 quarters and then increase by 1% increase in last 2 quarters.. Office Supplies: Actual expenditure on Office Supplies was \$1,300 per quarter and was the same for all four quarters. General Administration: Budgeted expenditure on general admin is $5,500 for all 4 quarters. Unproductive (unbilled) factor: Cleaning crews had to work 9% over the revenue generating hours to attend to complaints and do a second cleaning. These hours were not billable to clients, but JenProClean would pay the employees for this time they worked. 4|Page MGMT 8501: BUDGET ASSIGNMENT - S22 Information for other budgets: - 40% of total sales is cash sales. Remaining 60% are credit sales; of which 60% clients pays in same month, 40% clients pay following quarter of sale, AR balance as on Dec 31,2020 is $15,000. - JenProClean pays to their vendors for materials purchased as follows. 70% of purchase will be paid in same month, 30% will be paid in following quarter. AP balance as on Dec31,2020 is $5,000. Required: Part A: For part A, you will use the Excel template. Complete the steps in sequence: Information for other budgets: - 40% of total sales is cash sales. Remaining 60% are credit sales; of which 60% clients pays in same month, 40% clients pay following quarter of sale, AR balance as on Dec 31,2020 is $15,000. - JenProClean pays to their vendors for materials purchased as follows. 70% of purchase will be paid in same month, 30% will be paid in following quarter. AP balance as on Dec 31,2020 is $5,000. Required: Part A: For part A, you will use the Excel template. Complete the steps in sequence: MGMT 8501: BUDGET ASSIGNMENT - S22 For all other spreadsheets, you must use cell references, linking data from 'Input Database' and formulas. Other guidelines: - Data should be entered in the 'Input Database' spreadsheet only. - For all other spreadsheets, you must use cell references, linking data from 'Input Database' or other spreadsheets. Do not enter data or calculations without cell references. - To calculate variances, you need to use 'IF' formula. Part B: - The CEO is concerned regarding ethical practices and needs your advice. In your role as a c write a memo explaining: -What 'budgetary slack' is? - Possible budgetary items where 'budgetary slack can be applied?' - Structure of the memo: MGMT 8501: BUDGET ASSIGNMENT - S22 For all other spreadsheets, you must use cell references, linking data from 'Input Database' and formulas. Other guidelines: - Data should be entered in the 'Input Database' spreadsheet only. - For all other spreadsheets, you must use cell references, linking data from 'Input Database' or other spreadsheets. Do not enter data or calculations without cell references. - To calculate variances, you need to use 'IF' formula. Part B: - The CEO is concerned regarding ethical practices and needs your advice. In your role as a consultant, write a memo explaining: What 'budgetary slack' is? - Possible budgetary items where 'budgetary slack can be applied?' - Structure of the memo: - APA format of word document, maximum 2 pages. - Arial or Calibri font - Memo format - Memo will be verified through Turnitin