Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Chapter 9: Applying Excel Data Revenue $16.50 q Cost of ingredients $6.25 q Wages and salaries $10,400 Utilities $800 + $0.20 q Rent $2,200 Miscellaneous
Chapter 9: Applying Excel | ||||||||
Data | ||||||||
Revenue | $16.50 | q | ||||||
Cost of ingredients | $6.25 | q | ||||||
Wages and salaries | $10,400 | |||||||
Utilities | $800 | + | $0.20 | q | ||||
Rent | $2,200 | |||||||
Miscellaneous | $600 | + | $0.80 | q | ||||
Actual results: | ||||||||
Revenue | $27,920 | |||||||
Cost of ingredients | $11,110 | |||||||
Wages and salaries | $10,130 | |||||||
Utilities | $1,080 | |||||||
Rent | $2,200 | |||||||
Miscellaneous | $2,240 | |||||||
Planning budget activity | 1,800 | meals served | ||||||
Actual activity | 1,700 | meals served | ||||||
Enter a formula into each of the cells marked with a ? below | ||||||||
Review Problem: Variance Analysis Using a Flexible Budget | ||||||||
Construct a flexible budget performance report | ||||||||
Revenue | ||||||||
and | ||||||||
Actual | Spending | Flexible | Activity | Planning | ||||
Results | Variances | Budget | Variances | Budget | ||||
Meals served | ? | ? | ? | |||||
Revenue | ? | ? | ? | ? | ? | |||
Expenses: | ||||||||
Cost of ingredients | ? | ? | ? | ? | ? | |||
Wages and salaries | ? | ? | ? | ? | ? | |||
Utilities | ? | ? | ? | ? | ? | |||
Rent | ? | ? | ? | ? | ? | |||
Miscellaneous | ? | ? | ? | ? | ? | |||
Total expenses | ? | ? | ? | ? | ? | |||
Net operating income | ? | ? | ? | ? | ? | |||
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started