1 Chapter 10: Applying Excel 3 Data 4 Revenue 16.50 q 5 Cost of ingredients 6 Wa

Question

1 Chapter 10: Applying Excel 3 Data 4 Revenue 16.50 q 5 Cost of ingredients 6 Wages and salanies 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 56.25q 50.20 50.80 $10,400 5800t 52.200 5600 + $27,920 $11,110 $10,130 51,080 52,240 1,800 meals served 1,700 meals served 19 Planning budget actvity 20 Actual activity 21 22 Enter a formula into each of the cells marked wth a? below 23 Review Problem: Variance Analysis Using a Flexible Budget 24 25 Construct a flexible budget performance report 26 27 28 29 30 Meals served 31 Revenue 32 Exoenses 33 Cost of ingredients 4 Wages and salaries 35 Utilities 36 Rent 37 Miscellaneous 38 Total expenses 39 Net operating income 40 Revenue Planning Activity Budget Vaniances Flexible Spending Budget Variances Actual Filed in Chenter 10 Fnrm Chapter 10

Explanation / Answer

Planning budget Activity variances Flexible budget Revenue and spending variances Actual Meals served 1800 1700 1700 Revenue 29700 1650 U 28050 130 U 27920 Expenses: Cost of ingredients 11250 625 F 10625 485 U 11110 Wages and salaries 10400 0 None 10400 270 F 10130 Utilities 1160 20 F 1140 60 F 1080 Rent 2200 0 None 2200 0 None 2200 Miscellaneous 2040 80 F 1960 280 U 2240 Total expense 27050 725 F 26325 435 U 26760 Net operating income 2650 925 U 1725 565 U 1160

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