Please help fill out flexible budget performace report, I have already done the master budget. Directions included Thank you!!
DIRECTIONS for Flexible Budget Performance Report: 1. Cell reference all of the line items (account names) from the master budget into the Flexible Budget Performance report. 2. Cell reference all of the actual figures from the master budget to the actual column of the Flexible Budget Performance report. 3. Formulate the Master Budget figures by referencing (e.g., =G7) the appropriate cells in the first performance report. By doing 50, if any assumptions change, they will ripple through BOTH performance reports. 4. Build the Flexible Budget by using the ACTUAL SALES VOLUME achieved along with the original budget assumptions. This is very similar to building a master budget, except you are using actual sales volume. Assume the actual sales volume achieved is in the same relevant range as the original budget assumptions. Try using the "accounting" or "currency" settings to get dollar signs, commas, and brackets on negative numbers. Add underlines and double underlines as needed. 5. Head the appropriate column for the Volume Variance and then use Excel formulas to populate the cells in that column (e.g., +H33J33). Once you get the first cell done, copy and paste the formula to the other cells. 5. Head the appropriate column for the Volume Variance and then use Excel formulas to populate the cells in that column (e.g., +1433133). Once you get the first cell done, copy and paste the formula to the other cells. 6. Head the appropriate column for the Spending Variance and then use Excel formulas to populate the cells in that column (e.g. +F33H33 ). Again, copy and paste the formulas to the other cells. 7. Format the report appropriately (Dollar signs, underscores, double underscores, etc.) Use the following check figures to check your formulas so far: Lease on Distn center $15,500$(1,500)$17,000$ - $17,000 Shipping Expense $44,213$1293$42,920$2,920$40,000 8. To save time, we won't add the U and F designations to the flexible budget performance report. However, you'll need to mentally figure out which way they go. The interpretation of the volume variance is a little problematic because it compares two budgets, rather than budget vs. actual. For the purposes of this assignment, fill in the "volume variance" for variable costs as the difference between the flexible budgeted amount and the master budget amounts. HINT: Think of the MASTER BUDGET as the companys target when determining whether the volume variance should be designated as a U or F. 1) If vow set a series of hashmarks (retara) it zust means your colurtun width is not wide encucth be accomedate the cumber. hcrease rolumn width andior delete extra decimal places. 2. To add nsmben, put your sursor en the celi whece you want the arswer to be. Then keystroke the adicion lign[+] wad then dick on the cell pou watt add, thes keystreke the addeion ang again (o) and dick on the second crll rou want to add. Continue in the same fachion for multiple cels. Uhe the sabtraction ifgn (-) for nobracting ceils. If you hyee an arry ef cetls to add, yoo can use the Ashosum buthan. 3. To multiply, une the " myribol. To divide, ine the / iynool. 4. Make ise of cocvlance coninands whes you want similar. forurnulari in detert telh. 5. Mars check the iogic of your kesults atter entering formulas to make mare the sgreadiheet is doind ehat you fealy want in to do
