There are two parts

A Chapter 9: Applying Excel $16.50 g $6.25 a Data Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous + $0.20 9 $10,400 $800 $2,200 $600 + + $0.80 q Actual results: Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $27,920 $11,110 $10,130 $1,080 $2,200 $2,240 Planning budget activity Actual activity 1,800 meals served 1,700 meals served Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible budget performance report Revenue and Spending Variances Actual Results Flexible Budget Activity Variances Planning Budget ? Meals served Revenue Expenses: Cost of ingredients Wages and salaries Utilities Rent Miscellaneous Total expenses Net operating income ? For example, in cell B30 enter the formula "=B20". Notes: In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell C31 would be "=ABS(E31-B31)". Cells D31 through D39 and G31 through G39 already contain formulas to compute and display whether variances are Favorable or Unfavorable. Do not enter data or formulas into those cellsif you do, you will overwrite these formulas. After entering formulas in all of the cells that contained question marks, verify that the amounts match the numbers in the example in the text. Check your worksheet by changing the revenue in cell D4 to $16.00, the cost of ingredients in cell D5 to $6.50; and the wages and salaries in cell B6 to $10,000. The activity variance for net operating income should now be $850 U and the spending variance for total expenses should be $410 U. If you do not get these answers, find the errors in your worksheet and correct them. Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: | C DE 1 Chapter 9: Applying Excel $ $ 16.50 6.25 + $ 0.209 3 Data 4 Revenue 5 Cost of ingredients Wages and salaries 7 Utilities 8 Rent 9 Miscellaneous 10 11 Actual results: 12 Revenue 13 Cost of ingredients 14 Wages and salaries $ $ $ $ 10,400 800 2,200 600 + $ 0.80 9 $ $ $ $ $ $ 30,295 11,060 10,310 1.180 2,200 2,065 15 Utilities 16 Rent Miscellaneous 17 18 19 20 Planning budget activity 1,700 meals served meals served Actual activity 1,800 a. What is the activity variance for revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance)). The amount of the activity variance for revenue 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 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 d. What is spending variance for total expenses? (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 total expenses Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: 1 Chapter 9: Applying Excel 3 4 $ $ 16.509 6.259 5 Data Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous + $ 0.209 $ $ $ $ 10,400 800 2,200 600 + $ 0.809 12 Actual results: Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $ $ $ $ $ $ 29,430 11,160 10,225 1,210 2,200 2,045 Planning budget activity Actual activity 1,700 meals served 1,800 meals served a. What is the activity variance for revenue? (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 activity variance for revenue 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 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 d. What is spending variance for total expenses? (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 total expenses