For this assignment, refer to the scenario located in "Problems - Series A," section 8-19A of Ch. 8, "Performance Evaluation," of Fundamentals of Managerial Accounting Concepts. This scenario puts you in charge of preparing a budget for the Redmond Management Association annual public relations luncheon.

Read the scenario in the textbook and complete the activity below.

Use Excelshowing all work and formulasto complete the following:

oPrepare flexible budget.

oCompute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget.

oCompute flexible budget variances by comparing the flexible budget with the actual results.

Createa 6- to 8-slide presentation for the budget committee meeting. Complete the following in your presentation:

oSummarize the results of the sales volume and variable cost volume variances computations based on the comparison between the master budget and the flexible budget.

oSummarize the results of the flexible budget variances computations based on the comparison between the flexible budget and the actual results.

oJustify the favorable or unfavorable budget variances.

oSince this is a not-for-profit organization, address why anyone should be concerned with meeting the budget.

oMake recommendations for what can be done differently to stay on budget for future luncheons. Provide specific examples to support your recommendations.