Perfect Parties, Inc. has several divisions, one of which provides birthday parties at their facility, and has provided the actual and planning budget results for

Perfect Parties, Inc. has several divisions, one of which provides birthday parties at their facility, and has provided the actual and planning budget results for the month of June. The Controller has asked you prepare the Birthday Party Division Budget Performance Report. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. image text in transcribed

? X - 2 Sign In ESSE FILE HOME INSERT O Normal Page Break Page Custom Preview Layout Views Workbook Views Preparing a Performance Report - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW v Ruler Formula Bar a B D Gridlines Headings Zoom 100% Zoom to Window Macros Selection - Show Zoom Macros H36 K B C D E F G H I J 1 Perfect Parties, Inc. has several divisions. One division provides birthday parties at their facility. 2 Each party sold provides entertainment, decorations, food, and party favors for 10 children. 3 The bookkeeper has prepared a report comparing actual results for the month of June to budgeted results. Perfect Parties Birthday Party Division Analysis of Revenues and Costs For the Month Ended June 30 Planning Budget Actual Results Variances Number of parties 80 92 $ 3,560 F 13 Revenue $ 36,000 $ 39,560 14 Expenses: Food costs 7,200 8,648 Party supplies 3,200 3,404 Party worker wages 6,400 7,728 18 Administrative salaries 3,700 3,500 Equipment depreciation 1,200 1,200 20 Rent 5,000 5,000 21 Total expense 26,700 29,480 22 Net operating income $ 9,300 $ 10,080 23 Food costs, party supplies and party worker wages are variable costs. ... Sheet 1 ... + 1,448 U 204 U 1,328 U 200 F - None - None 2,780 U 780 F $ READY U 0 -- + 100% ? Preparing a Performance Report - Excel FORMULAS DATA REVIEW - Sign In PAGE LAYOUT VIEW D X 5d, = FILE HOME INSERT O Normal Page Break Page Custom Preview Layout Views Workbook Views W Ruler Formula Bar Q Q = 6 Gridlines Headings Zoom 100% Zoom to Window Macros Selection - Zoom Macros Show H36 26 Prepare a new report for June using the flexible budget approach. Enter all variances as positive amounts. If there is a variance, write an IF statements to indicate if it is For U (using capital letters). 28 If there is no variance, enter the word None. Perfect Parties Birthday Party Division Flexible Budget Performance Report For the Month Ended June 30 Planning Budget Flexible Budget 92 Revenue and Spending Variances Activity Variances Actual Results 92 34 Number of parties 80 35 $ 36,000 Revenues 37 Expenses: 38 Food costs 39 Party supplies 40 Party worker wages 41 Administrative salaries 42 Equipment depreciation Rent 44 Total expense Net operating income ... Sheet 1 ... + READY - + 100%