1-Prepare a flexible budget.

2-Prepare a performance report that combines activity variances and revenue and spending variances.

PAGE LAYOUT FORMULAS FILE Sign In HOME INSERT DATA REVIEW VIEW Conditional Format as Cell Paste Alignment Number Cells Editing B I U Formatting Table Styles Clipboard Font Styles Perfect Parties, Inc. has several divisions. One division provides birthday parties A1 1 Perfect Patties Inc. has several divisions. One division provides birthday parties at their facility. 2 Each party sold provides entertainment, decorations, food, and party favors for 10 children. 3 The bookkeeper has prepared a report comparing actual results for the month of June to budgeted results Perfect Parties Birthday Party Division Analysis of Revenues and Costs For the Month Ended June 30 Budget Actual Results 10 Bo 92 11 Number of parties 12 Revenue S 36,000 S 39,560 3S60 F 13 14 Expenses: 8.648 1.448 U 7,200 15 Food costs, 3.200 3,404 204 U 16 Party supplies 6,400 7728 17 Party worker wages 1,328 U 3700 3,500 200 F 18 Administrative salaries 1200 1200 None 19 Equipment depreciation Rent 5.000 S000 None 20 26,700 29.480 2,7 0 U 21 Total expense S300 10080 S 780 F 22 Net operating income 23 Food costs, party supplies and party worker wages are variable costs 24 Administrative salaries, equipment depreciation and rent are fixed costs. 25 26 Prepare a new report for June using the flexible budget approach. 27 Enter all variances as positive amounts. If there is a variance, write an IF statements to indicate if it is For U (using capital letters) 28 If there is no variance, enter the word None. Perfect Parties 29 Birthday Party Division Flexible Budget Performance Report 30 Sheet 1 10%