Create a pivot table in Excel 2. Format a pivot tablo 3. Apply filters to a pivot table 4. Prepare a budget variance report referencing numbers in a pivot table 5. Analyze budget variances Data Set Background Paul Revere rode through the City of Somerville, Massachusetts during his famous "Midnight Ride Tits Prospect Hill was where the first Grand Union flag was raised under orders by General George Washington on January 1, 1776. Today, Somerville is a city with a population of almost 80,000 and is one of the most ethnically diverse cities in the country it is located just two miles north of Boston and occupies just over 4 square miles The City of Somerville, MA, posts its checkbook online for public use. This data analytics activity uses the city of Somerville (Somerville) checkbook dataset for the years 2013-2016 and contains more than 55,000 records Note: Even though the city of Somerville, MA, uses a fiscal year from July through June 30, calendar years are used here so that the analysis does not get complicated from the conversion from fiscal years to calendar years in Excel pivot tables Data Dictionary Item Number: This field is a sequential number assigned during the year. The year was added to the item numberto create a unique identifier for each transaction Category of Gov. This field indicates whether the transaction relates to Education, General Government, or Public works, the three divisions or government for the City of Somerville Vendor Name: This field contains the name of the entity related to the transaction. Amount This field is the amount of the check Check Date: This field is the date that the check was written Department. This field is the department within the Category of Government related to this transaction Check #: This field is the sequential check number Org Description: This field gives additional detail about the specific organization within the general Department related to this transaction Account Desc: This field provides additional detail about the purpose of the transaction Item Class: This is the only fictitious field that was added to Somerville's dataset. This field attempts to classify Somerville's checkbook items into broad classes for ease of analysis and interpretation . . . 5. Prepare a memo in Word addressed to me (James Guthrie) in which you analyze the budget variance report you prepared in Step 4. Answer the following questions: Overall, how would you say the City of Somerville is doing? What threshold would you use in examining variances? How large should they be before you investigate? Should this be based on the percentage difference from budget or total dollars? Would you investigate both the favourable (positive) and unfavourable (negative) variances? What variances (be specific) do you think should be investigated? In Moodle, you will find a Word memo template that you can use. Feel free to make up any information (i.e. contact info, etc.) to prepare your memo and it should be no longer than one page in length. Once completed, upload your Excel (pivot tables) and Word (memo) files to Moodle. JO I Create a pivot table in Excel 2. Format a pivot tablo 3. Apply filters to a pivot table 4. Prepare a budget variance report referencing numbers in a pivot table 5. Analyze budget variances Data Set Background Paul Revere rode through the City of Somerville, Massachusetts during his famous "Midnight Ride Tits Prospect Hill was where the first Grand Union flag was raised under orders by General George Washington on January 1, 1776. Today, Somerville is a city with a population of almost 80,000 and is one of the most ethnically diverse cities in the country it is located just two miles north of Boston and occupies just over 4 square miles The City of Somerville, MA, posts its checkbook online for public use. This data analytics activity uses the city of Somerville (Somerville) checkbook dataset for the years 2013-2016 and contains more than 55,000 records Note: Even though the city of Somerville, MA, uses a fiscal year from July through June 30, calendar years are used here so that the analysis does not get complicated from the conversion from fiscal years to calendar years in Excel pivot tables Data Dictionary Item Number: This field is a sequential number assigned during the year. The year was added to the item numberto create a unique identifier for each transaction Category of Gov. This field indicates whether the transaction relates to Education, General Government, or Public works, the three divisions or government for the City of Somerville Vendor Name: This field contains the name of the entity related to the transaction. Amount This field is the amount of the check Check Date: This field is the date that the check was written Department. This field is the department within the Category of Government related to this transaction Check #: This field is the sequential check number Org Description: This field gives additional detail about the specific organization within the general Department related to this transaction Account Desc: This field provides additional detail about the purpose of the transaction Item Class: This is the only fictitious field that was added to Somerville's dataset. This field attempts to classify Somerville's checkbook items into broad classes for ease of analysis and interpretation . . . 5. Prepare a memo in Word addressed to me (James Guthrie) in which you analyze the budget variance report you prepared in Step 4. Answer the following questions: Overall, how would you say the City of Somerville is doing? What threshold would you use in examining variances? How large should they be before you investigate? Should this be based on the percentage difference from budget or total dollars? Would you investigate both the favourable (positive) and unfavourable (negative) variances? What variances (be specific) do you think should be investigated? In Moodle, you will find a Word memo template that you can use. Feel free to make up any information (i.e. contact info, etc.) to prepare your memo and it should be no longer than one page in length. Once completed, upload your Excel (pivot tables) and Word (memo) files to Moodle. JO