Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: B C D E A Chapter 9: Applying Excel 1 4 $ $ 16.50 6.25 9 5 Cost of 3 Data Revenue Cost of ingredients 6 Wages and salaries 7 Utilities 8 Rent 9 Miscellaneous le + $ 0.209 $ $ $ $ 10,400 800 2,200 600 + $ 0.80 g 10 11 Actual results: 12 Revenue $ 29,540 $ $ $ 13 Cost of ingredients 14 Wages and salaries 15 Utilities 16 Rent 17 Miscellaneous 18 19 Planning budget activity 20 Actual activity 11,540 10,635 1,135 2,200 2,045 $ $ 1,700 meals served 1,800 meals served C D E F G H I J K $16.50 a $6.25 a $0.20 a $10,400 $800 $2,200 $600 + $0.80 3 Data 4 Revenue 5 Cost of ingredients 6 Wages and salaries 7 Utilities 8 Rent 9 Miscellaneous 10 11 Actual results: 12 Revenue 13 Cost of ingredients 14 Wages and salaries 15 Utilities 16 Rent 17 Miscellaneous 18 19 Planning budget activity 20 Actual activity $27,920 $11,110 $10,130 $1,080 $2,200 $2,240 1,800 meals served 1,700 meals served 21 22 Enter a formula into each of the cells marked with a ? below 23 Review Problem: Variance Analysis Using a Flexible Budget Revenue and Spending Variances Flexible Activity Budget Variances Planning Budget 29 25 Construct a flexible budget performance report 26 27 28 Actual Results 30 Meals served 31 Revenue 32 Expenses: 33 Cost of ingredients 34 Wages and salaries 35 Utilities 36 Rent 37 Miscellaneous 38 Total expenses 39 Net operating income 40 ? ? ? ? b. What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for the cost of ingredients [ $ 1101F c. What is spending variance for wages and salaries? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for wages and salaries $ 15F