Rooney Company provided the following information needed for the preparation of its static and flexible budget reports during January, 2022.

1 5. 5 X Chapter 10Problems Question2 - Excel ACROBAT Power Pivot Tell me what you want to do... File Formulas Data Review View 14 ED Home Insert Page Layout % Cut Liberation Sans E Copy BIU, P Format Painter 12 - AM Wrap Text Custom Y HH Sign in 2 Share AutoSum - A o Fill - Sort & Find & Clear Filter - Select Editing Paste H Insert Delete Format A- === Merge & Center - $ % 4.0 .00 .00 0 Conditional Format as Cell Formatting Table Styles Styles Clipboard Font Alignment Number Cells F30 : X fc F J K L R S s T U V w X G H M P Q Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area or work area as indicated. Use the IF function with cell references to label as Favorable or Unfavorable. a. Rooney Company Static Direct Labor Budget Report For the Month Ended January 31, 2022 Budget Actual Difference Direct labor C D E 4 Budget 5 PROBLEM 6 Rooney Company provided the following information needed for 7 the preparation of its static and flexible budget reports during 8 January, 2022 9 10 Direct labor rate per direct labor hour $ 20.00 11 Actual direct labor cost, January $ 206,000 12 Expected direct labor hours per month 10,000 13 Actual direct labor hours, January 10,400 14 15 Prepare the following budget reports for January 2022 using 16 Excels' IF function, and evaluate the usefulness of each report. 17 a. A static budget report 18 b. A flexible budget report 19 20 21 22 23 24 25 26 b. Rooney Company Flexible Direct Labor Budget Report For the Month Ended January 31, 2022 Budget Actual Difference Direct labor Which budget report is more useful? budget does not provide a proper basis for evaluating performance because the budget is the hours actually worked. 27 28 29 30 budget provides a proper basis for evaluating performance Enter Answer Ready 84% b gi x] E JA IN 8:09 PM 4/11/2022