Harvest Foods manufractures pumpkin scones. For January 2017, it budgeted to purchase and use 14,500 pounds of pumpkin at $0.91 a pound. Actual Purchases and usage for January 2017 were 15,000 pounds at $0.86 a pound. Harvest budgeted for 58,000 pumpkin scones. Actual Output was 52,500 pumpkin scones.

Please help with Requirement 1-3 if possible to follow the pictures to use excel sheet

Harvest Foods manufactures pumpkin scones. For January 2017, it budgeted to purchase and use 14,500 pounds of pumpkin at $0.91 a pound. Actu budgeted for 58,000 pumpkin scones. Actual output was 52,500 pumpkin scones. Read the requirements Requirement 1. Compute the flexible-budget variance. Let's begin by determining the formula used to calculate the actual pumpkin costs, then enter the amounts in the formula and calculate the cost. Actual pumpkin costs Now determine the formula and calculate the pumpkin costs that will be found in the static budget column of your analysis. Static budget pumpkin costs Determine the formula and calculate the pumpkin costs for the flexible budget. (Round your answer to the nearest whole dollar) = Flexible budget pumpkin costs Flexible Now enter the amounts above into the analysis and determine the flexible-budget variance. (Round your answers to the nearest whole dollar. Label each v Actual Flexible-Budget Sales-Volume Static Results Variance Budget Variance Budget Pumpkin costs Requirement 2. Compute the price and efficiency variances Bogin by completing the following tablo (Round your answer to the nearest whole dollar. Abbreviation used: Qty = quantity) Actual Input ty Actual Flexible Requirement 1. Compute the flexible-budget variance. Let's begin by determining the formula used to calculate the actual pumpkin costs, then enter the amounts in the formula and calculatet Actual pumpkin costs Now determine the formula and calculate the pumpkin costs that will be found in the static budget column of your analysis, Static budget pumpkin costs Determine the formula and calculate the pumpkin costs for the flexible budget. (Round your answer to the nearest whole dollar.) = Flexible budget pumpkin costs Actual Static Now enter the amounts above into the analysis and determine the flexible-budget variance. (Round your answers to the nearest whole dollar Flexible-Budget Flexible Sales-Volume Results Variance Budget Variance Budget Pumpkin costs Requirement 2. Compute the price and efficiency variances. Begin by completing the following table. (Round your answer to the nearest whole dollar. Abbreviation used: Qty = quantity) Actual Input Qty Actual Flexible Now enter the amounts above into the analysis and determine the flexible-budget variance. (Round your answers to the near Actual Flexible Flexible-Budget Variance Sales-Volume Static Results Budget Variance Budget Pumpkin costs Requirement 2. Compute the price and efficiency variances. Begin by completing the following table. (Round your answer to the nearest whole dollar. Abbreviation used: Qty = quantity) Actual Input Qty Actual Flexible Costs Budgeted Price Budget The price variance is $ (Label the variance as favorable (F) or unfavorable (U).) The efficiency variance is $ (Label the variance as favorable (F) or unfavorable (U).) Requirement 3. Comment on the results for requirements 1 and 2 and provide a possible explanation for them. The price variance reflects the actual purchase cost being the budgeted purchase cost per pour efficiency variance reflects the actual materials yield being the budgeted yield. The compar used pumpkins (materials) to make the scones than was budgeted. The One explanation may be that Harvest purchased quality pumpkins at a cost per pound