Flexible Budgets and Standard Cost Systems D Using Excel to prepare a flexible budget performance report Pichuck Company manufactures tote bags and has provided the following information for September 2018 Actual Results Static Budget Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income 14.000 15.000 560,000 540,000 294,000 262,500 266,000 277,500 109,000 122,000 157,000 155,500 Use the blue shaded areas on the ENTERANSWERS tab for inputs Always use call references and formulas where appropriate to receive full credit if you copy/paste from the instructions tab you will be mark Requirements Prepare a flexible budget performance report, including the heading the the ABS F drop down selections for For U when describing the 2. Calculate the Static Budert Verience for operating income, and label t Excel Skills 1 A85 function (Absolute Valve) to calulate the variances 2 Data validation to select a favorable) or Un 3 Cell references both absolute and relative Saving & Submitting Chapter Excel Assignments a You may want to create fo folder on desktop, and i nd label COMPLETED EXCEL PROJECTS D (Always une call references and formulas where appropriate to receive full crede. If you copy/pete from the instructions tab you will be marked w Column 2 Column 3 C350 Budget Amounts Actual Resu Sales Voluma Foru V Budget Za Calculate the State Budget Variance for operating me, and be it as a P ENTERANSWERS U " Co