Please do all requirements, and use given template for guidline/answer spaces. Thank you so much!!!

Instructions Flexible Budget template Chapter 23 Using Excel P23-35 Using Excel to prepare a flexible budget performance report Pilchuck Company manufactures tote bags and has provided the following information for September 2018 Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income Actual Results Static Budget 11.000 12.000 368,000 384.000 183,0001 198.000 185.000 186.000 76,000 77.184 109,000 108816 Requirements 1. Prepare a flexible budget performance report, including the heading. Use the ABS function when calculating variances, and use the drop-down selections for ForU when describing the variances. 2. Calculate the Static Budget Variance for operating income, and label it as a F (favorable) or U(unfavorable) variance. Excel Skills 1 ABS function(Absolute Value) to calculate the variances. 2. Data validation to select a F (favorable) or (unfavorable) variance 3. Cell references both absolute and relative Instructions Flexible Budget template Prepare a flexible budget performance report, including the heading Use the ABS function when calculating variances, and use the drop-down selections for ForU when Requirement 1 describing the variances Columns Column 1 Column 2 Column 3 Column 4 Kol (1) - Col (3) Col (3) - Col (5) Budget Flexible Budget Sales Volume Amounts per Actual Results For U Flexible Budget Variance Variance Unit For U Static Budget Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income Requirement 2 Calculate the Static Budget Variance for operating income, and label it as a F (favorable) or U(unfavorable) variance Statie Budget Variance for Operating Income (1)-(5) Amount: For U