Please show work in excel thank you.

Master Budget Performance report for the month ended June 30 Actual Master Budget Master Budget Working Varlance Actual - Budget Volume (in Cases) 21,460 20,000 Given 1,46C Sales Revenue 1,131,020 1,000,000 (20,000 x 50 ) 131,020 Less: Variable Expenses: 682,880 82,880 8,68 Cost of Goods Sold Sales Commission Shipping Expenses Bad Debt Expense Contribution Margin 600,000 (20,000 x 30) 50,000 (20,000 x 25) 40,000 (20,000 x 2) 9,000 1,000,000 X 90% x 196 ) 301,000 58,685 44,213 16,930 328,312 4,213 7,930 27,312 Less: Fixed expenses Salaries 3,000 Lease on distribution center -1,500 43,000 15,500 12,000 7,750 40,000 Given 17,000 Given 12,000 Given 10,000 Given 11,000 Given Depreciation on fleet & equip. Advertising Office rent, phone, internet Opearting Income -2.250 12,300 1,300 237,762 211,000 26,762 7. Answer the following questions: a. What is the master budget variance for Shipping exp.? $_ F? What does it mean? ___%. U or b. What is the master budget variance for Lease Exp? $_ F? What does it mean? %. U or 8. Using management by exception, along with the investigation rule shown with the budget assumptions, which variances would you investigate? List them. Master Budget Performance report for the month ended June 30 Actual Master Budget Master Budget Working Varlance Actual - Budget Volume (in Cases) 21,460 20,000 Given 1,46C Sales Revenue 1,131,020 1,000,000 (20,000 x 50 ) 131,020 Less: Variable Expenses: 682,880 82,880 8,68 Cost of Goods Sold Sales Commission Shipping Expenses Bad Debt Expense Contribution Margin 600,000 (20,000 x 30) 50,000 (20,000 x 25) 40,000 (20,000 x 2) 9,000 1,000,000 X 90% x 196 ) 301,000 58,685 44,213 16,930 328,312 4,213 7,930 27,312 Less: Fixed expenses Salaries 3,000 Lease on distribution center -1,500 43,000 15,500 12,000 7,750 40,000 Given 17,000 Given 12,000 Given 10,000 Given 11,000 Given Depreciation on fleet & equip. Advertising Office rent, phone, internet Opearting Income -2.250 12,300 1,300 237,762 211,000 26,762 7. Answer the following questions: a. What is the master budget variance for Shipping exp.? $_ F? What does it mean? ___%. U or b. What is the master budget variance for Lease Exp? $_ F? What does it mean? %. U or 8. Using management by exception, along with the investigation rule shown with the budget assumptions, which variances would you investigate? List them