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FF0000RESTRICTED MORPHO Steven Albert MBA515 Chapter 9: Applying Excel Data Revenue Cost of ingredients Wages and salaries Utilities Rent

Please open the attachment. The initial chart is complete. For Chapter 10, pages 444-446, Requirement 1, I completed most of the chart, but got stuck. The part the is not completed is highlighted in yellow. The green highlights what should be the new calculation. The red highlights are the changes required in the question. Please complete the chart and answer the two questions below the chart. For Chapter 9, pages 400-401, Requirement 2, please complete the chart with the changes highlighted in red and answer the question below the chart. Thank you.

FF0000RESTRICTED MORPHO Steven Albert MBA515 Chapter 9: Applying Excel Data Revenue $16.50 q Cost of ingredients $6.25 q Wages and salaries $10,400 Utilities $800 + $0.20 q Rent $2,200 Miscel aneous $600 + $0.80 q Actual results: Revenue $27,920 Cost of ingredients $11,110 Wages and salaries $10,130 Utilities $1,080 Rent $2,200 Miscel aneous $2,240 Planning budget activity 1,800 meals served Actual activity 1,700 meals served Enter a formula into each of the cel s marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible budget performance report Revenue and Planning Activity Flexible Spending Actual Budget Variances Budget Variances Results Meals served 1,800 1,700 1,700 Revenue $29,700 $1,650 U $28,050 $130 U $27,920 Expenses: Cost of ingredients 11,250 625 F 10,625 485 U 11,110 Wages and salaries 10,400 - 10,400 270 F 10,130 Utilities 1,160 20 F 1,140 60 F 1,080 Rent 2,200 - 2,200 - 2,200 Miscel aneous 2,040 80 F 1,960 280 U 2,240 Total expenses 27,050 725 F 26,325 435 U 26,760 Net operating income $2,650 $925 U $1,725 $565 U $1,160 Chapter 9, pages 400-401, Requirement 1 Data Revenue $16.00 q Cost of ingredients $6.50 q Wages and salaries $10,000 Utilities $800 + $0.20 q Rent $2,200 Miscel aneous $600 + $0.80 q Actual results: Revenue $27,920 Cost of ingredients $11,110 Wages and salaries $10,130 Utilities $1,080 Rent $2,200 Miscel aneous $2,240 Planning budget activity 1,800 meals served Actual activity 1,700 meals served Enter a formula into each of the cel s marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible budget performance report Revenue and Planning Activity Flexible Spending Actual Budget Variances Budget Variances Results Meals served 1,800 1,700 1,700 Revenue $28,800 $1,650 U $27,200 $130 U $27,920 Expenses: Cost of ingredients 11,700 625 F 11,050 485 U 11,110 Wages and salaries 10,000 - 10,000 270 U 10,130 Utilities 1,160 20 F 1,140 60 F 1,080 Rent 2,200 - 2,200 - 2,200 Miscel aneous 2,040 80 F 1,960 280 U 2,240 Total expenses 27,100 725 F 26,350 435 U 26,760 Net operating income $1,700 $850 U $850 $410 F $1,160 Chapter 9, pages 400-401, Requirement 2 Data Revenue $16.50 q Cost of ingredients $6.25 q Wages and salaries $10,400 Utilities $800 + $0.20 q Rent $2,200 Miscel aneous $600 + $0.80 q Actual results: Revenue $28,900 Cost of ingredients $11,300 Wages and salaries $10,300 Utilities $1,120 Rent $2,300 Miscel aneous $2,020 Planning budget activity 1,700 meals served Actual activity 1,800 meals served Enter a formula into each of the cel s marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible budget performance report Revenue and Planning Activity Flexible Spending Actual Budget Variances Budget Variances Results Meals served 1,800 1,700 1,700 Revenue $29,700 $1,650 U $28,050 $130 U $27,920 Expenses: Cost of ingredients 11,250 625 F 10,625 485 U 11,110 Wages and salaries 10,400 - 10,400 270 F 10,130 Utilities 1,160 20 F 1,140 60 F 1,080 Rent 2,200 - 2,200 - 2,200 Miscel aneous 2,040 80 F 1,960 280 U 2,240 Total expenses 27,050 725 F 26,325 435 U 26,760 Net operating income $2,650 $925 U $1,725 $565 U $1,160 Check your worksheet by changing the revenue in cel D4 to $16.00; the cost of ingedients in cel D5 to $6.50; and the wages and salaries in cel 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. a. What is the activity variance for revenue? Explain your variance. b. What is the spending variance for the cost of ingredients? Explain this variance. a. The activity variance for revenueis . Explain your variance. b. The spending variance for the cost of ingredients is . Explain this variance. Revise the data in your worksheet (marked in red) to reflect the results for the fol owing year: Using the flexible budget performance report, briefly evaluate the company's performance for the year and indicate where attention should be focused.
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