South Fast, an independently owned restaurant chain, specializes in Southern cuisine fast food. Following is a partial performance report that a SouthFast manager built in Excel.

Using the partial performance report shown, answer the following questions.

1. What formula would be entered in Cell D3 to calculate the difference between the ACTUAL total in Cell B3 and the BUDGET total in Cell C3?
2. How would the formula in Question 1 be modified to make the result in Cell D3 an absolute value?
3. What steps would you perform in Cell E3 to display an “F” if the variance in Cell D3 is favorable and a “U” if the variance is unfavorable?
4. How could the contents of Cells D3 and E3 be copied to the remaining rows containing revenues?
5. How do the steps for calculating the “F” or “U” for expenses differ from the formula for “F” or “U” for revenues?

Transcribed Image Text:

1 2 3 4567 A Sales Revenue: In-house dining Customer pick-up Uber Eats In-house delivery Food truck sales 8 Event catering 9 Expenses: 10 Ingredients $ $ $ $ $ $ $ B ACTUAL 800,671 $ 140,198 $ 65,394 $ 22,514 $ 94,209 $ 64,334 $ 735,975 $ C BUDGET 741,000 $ 124,000 $ 73,000 $ 22,000 $ 105,000 $ 51,000 $ 750,000 $ D VARIANCE 59,671 16,198 7,606 514 10,791 13,334 14,025 E For U FFUU F U TC F F