Enter formulas in all cells that contain question marks.

For example, in cell B30 enter the formula " B20" Notes: In the text,variances are always displayed as positive numbers. To accomplish this, you can use the ABSO function in Excel. For example, the formula in cell C31 would be -ABS(E31-B31)" Cells D31 through D39 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. After entering formulas in all of the cells that contained question marks, verify that the amounts match the numbers in the example in the text. 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 activty variance for net operating income should now be $850 U and the spending variance for total expenses should be $410 U. If you do not get these answers, find the errors in your worksheet and correct them Data $16.50 q Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $6.25 q $0.20 q $0.80 q $10,400 S800+ $2,200 S600+ Actual results Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $27,920 $11,110 $10,130 $1,080 $2,200 $2,240 Planning budget activity Actual activity 1,800 meals served 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 Results Variances Flexible Activity Budget Variances Planning Budget Meals served Revenue Expenses Cost of ingredients Wages and salaries Utilities Rent Miscellaneous Total expenses Net operating income