Please include excel fromulas for each box.

2 Perfect Parties, Inc. has several divisions. One division provides birthday parties at their facility. 3 Each party sold provides entertainment, decorations, food, and party favors for 10 children. 4 The bookkeeper has prepared a report comparing actual results for the month of June to budgeted results. 5 6 Perfect Parties 7 Birthday Party Division Analysis of Revenues and Costs 8 For the Month Ended June 30 Planning Actual 9 Budget Results Variances 10 Number of parties 80 92 11 Revenue $36,000 $39,560 $3,560 F 12 Expenses: 13 Food costs 7,200 1,448 U Party supplies 3,200 3,404 204 U 15 Party worker wages 6,400 7,728 1,328 U 16 Administrative salaries 3,700 3,500 2007 17 Equipment depreciation 1,200 1,200 O None 18 Rent 5,000 5,000 O None 19 Total expense 26,700 29,480 2,780 0 20 Net operating income $9,300 $10,080 $780 F 21 Food costs, party supplies, and party worker wages are variable costs. 22 Administrative salaries, equipment depreciation, and rent are fixed costs. 23 24 Required 8,648 H 1 3 D E 21 Food costs, party supplies, and party worker wages are variable costs. 22 Administrative salaries, equipment depreciation, and rent are fixed costs. 23 24 Required: 25 Prepare a new report for June using the flexible budget approach: 27 Enter all variances as positive amounts. Leave no cells blank. 28 (Uue cells 810 to 120 from the given information to complete this question 26 29 30 31 32 Perfect Parties Birthday Party Division Flexible Budget Performance Report for the Month Ended lune 30 Planning Activity Flexible Revenue and Spending Budget Variances Hudget Variances 80 92 536,000 $3,560 $41.400 51.840 U Actual 33 34 Number of parties 35 Revenues 36 Expenses 37 Food costs 38 Party Supplies 39 Party worker wages 40 Administrative salaries 41 Equipment depreciation 42 Rent 43 Total expense 44 Net operating income 45 2,200 1.080 U 3,200 180 U 6,400 960 U 3,700 None 1,200 None 5,000 None 26,700 2.520 0 59,300 $2,880 8,280 36RU 3,680 276 7,360 368 U 3,700 200 F 1,200 None 5,000 None 29,220 2600 $12,180 $2,100 u 46 Graded Worksheet