Variances
						Information
Flexible Budget for the Quarter	Actual results	Flexible Budget	Flexible Budget Variance	FBV Type(fav/unfav)		Actual units sold	9,400
Units sold						Actual selling price	$158
Revenue						Actual amount paid for direct materials	$213,850
Variable manufacturing costs						Pounds of direct materials purchased and used	32,900
Variable selling & adminstrative costs						Actual amount paid for direct labor	$444,150
Contribution margin						Actual direct hours worked	16,450
Fixed manufacturing costs						Actual amount of variable manufcturing overhead	$188,000
Fixed selling & adminstrative costs						Actual amount of variable selling & adminsitrative expenses	$131,600
Operating income						Actual amount of fixed manufcturing overhead	$115,000
						Actual amount of fixed selling & adminsitrative expenses	$127,000
DOL
Margin of safety (in sales revenue)
		Fav/Unfav
Direct labor rate variance
Direct labor efficiency variance
Direct materials price variance
Direct materials efficiency variance
Actual DL Rate
Allowed DL
Actual DM Price
Allowed DM

Project Guidelines:

ACC 3300 - SP24 Excel Assignment

This is an individual assignment.

You should submit your completed Excel Workbook to Dropbox. Please name your files

"Last Name-First Name".

Use the appropriate Worksheets in the Excel file posted to Dropbox.

You should use cell referencing in your responses. You SHOULD NOT be typing

numbers directly into cells.

Be sure to use the Excel functions specified for each requirement.

Project Requirements:

Create revenue budget for January, February, March, and the quarter as a whole on the "Revenue Budget" Worksheet

Create production budget for January, February, March, and the quarter as a whole on the "Production Budget" Worksheet

Create budgeted contribution margin style income statement for January, February, March, and the quarter as a whole on the "CM income statement" Worksheet. Keep in mind that expenses on the income statement are based on the number of units sold, not the number of units produced.

Using the information on the "Variances" Worksheet, prepare the contribution margin style income statement (Actual results)for the first quarter of the year. Also, determine the degree of operating leverage (DOL) and margin of safety (MOS) at this level of sales.

Using the information on the "Variances" Worksheet, prepare the flexible budget contribution margin style income statement and flexible budget variances. When determining the variances, you should use "@IF" to properly classify the variances as either favorable or unfavorable.