Instructions Flexible Budget template Chapter 21 Using Excel P22-35 Using Excel to prepare a flexible budget performance report Pikchuck Company manufacturer ton hags and has provided the following information for September 2016: Actual Results Statie Budget Unite 11.0001 Sales Revete 384,000 Variable Costa 13.000 198,000 Contribution Margin TRS.CO 160.000 Fixed Costs 76.000 77.184 Operating Income 109.000 TON TO Requirements Prepare a flexible budget performance report, including the heading. Use the ABS function when calculating variances, and use the drop-down elections for ForU when describing the variances 2. Calculate the Static Hudget Variance for operating income, and label it as a favorable) or Ufunfavorable) variance 1. ABS function(Absolute Value) to calculate the variances 2 Duta validation to select a favorable) o unfavorable) ariance Cell references both absolute and relative Amount pe Actual Reader Fire Red Instructions Flexible Budget template Requirement Prepare a flexible budget performance report, including the heading the the ABS function when calculating variances, and use the drop-down selections For when describing the varice Colom Column 2 Colum Column Columns Col () Col (3) Col 3). Col (5) Budget Sales Volume Par State Budget Variance Variance Unite Sales Reven Variable Costa Contribution Margin Fixed Operating Income Requirement Calculate the State Budget Variance for operating income, and label is as a Ffuvable) or (unfavorable variance Statie Hedget Variance for Operating Income (I) - (5) Amount: For U