Please use excel format. Example: =SUM(B37:B42)

a 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 Here are some tips for using Excel . Cell Reference: Allows you to refer to data from another cell in the worksheet. If you entered =B5" into a blank cell, the formula would output the value from cell BS. Basic Math Functions: Allow you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add).- (minus sign to subtract). * (asterisk sign to multiply), and/(forward slash to divide). For example, if you entered --B4 B5" in a blank cell, the formula would add the values from those cells and output the result. SUM Function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges. If you entered" SUMC4,C5,C6)" into a blank cell, the formula would output the result of adding those three separate cells. Similarly, if you entered "SUMC4:C6)", the formula would output the same result of adding those cells 1. Use the Open Excel in New Tab button to launch this question 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect Excel McGraw Hill Excel Question - Saved Search (Option + 0) File Home Insert Draw Formulas Data Review View Help Editing Calibri Number & C37 B D E F G H 1 CON 2 Perfect Parties, Inc. has several divisions. One division provides birthday parties at their facility, Each party sold provides entertainment, decorations, food, and party favors for 10 children. 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 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 8,648 1,448 U 14 Party supplies 3,200 3,404 204 U 15 Party worker wages 6,400 7,728 1,328 U 16 Administrative salaries 3,700 3,500 200 F 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 U 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: 25 Prepare a new report for June using the flexible budget approach. 26 3 Graded Worksheet + Calculation Mode: Automatic Workbook Statistics Excel McGraw Hill Excel Question - Saved Search (Option+0) File Home Insert Draw Formulas Data Review View Help Editing Calib Number 1 037 fo B D E F G H 1 27 Enter all variances as positive amounts. Leave no cells blank. 28 (Use cells B10 to E20 from the given information to complete this question.) 29 30 Perfect Parties 31 Birthday Party Division Flexible Budget Performance Report 32 For the Month Ended June 30 Planning Activity Flexible Revenue and Spending Actual 33 Budget Variances Budget Variances Results 34 Number of parties 80 92 92 35 Revenues $36,000 $5,400 $41,400 $39,560 36 Expenses: 37 Food costs 7,200 U U 8,648 38 Party Supplies 3,200 U IF 3,404 39 Party worker wages 6,400 U U 7,728 40 Administrative salaries 3,700 None 3,700 F 3,500 41 Equipment depreciation 1,200 None 1,200 None 1,200 42 Rent 5,000 None 5,000 None 5,000 43 Total expense 26,700 U u 29,480 44 Net operating income $9,300 IF U $10,080 45 46 47 48 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work 49 Nothing in this area will be graded, but it will be submitted with your assignment 50 51