4 5 6 7 8 9 18 A 33 1 2 Perfect Parties, Inc. has several divisions. One division provides birthday parties at their facility. 3 Each party sold provides entertainment, decorations, food, and party favors for 10 children. The bookkeeper has prepared a report comparing actual results for the month of June to budgeted results. Food costs 34 Number of parties 35 Revenues 36 Expenses: 37 38 Party supplies 39 Party worker wages 40 Administrative salaries 41 Equipment depreciation B Perfect Parties Birthday Party Division Analysis of Revenues and Costs For the Month Ended June 30 Actual Results 92 $39,560 $3,560 F 42 Rent 43 Total expense 44 Net operating income Planning Budget 80 $36,000 10 Number of parties 11 Revenue 12 Expenses: 13 Food costs 14 Party supplies 15 Party worker wages 16 Administrative salaries 17 Equipment depreciation 18 Rent 19 Total expense 20 Net operating income 21 Food costs, party supplies, and party worker wages are variable costs. 22 Administrative salaries, equipment depreciation, and rent are fixed costs. 23 24 Required: 25 Prepare a new report for June using the flexible budget approach. 26 27 Enter all variances as positive amounts. Leave no cells blank. 28 (Use cells A10 to E20 from the given information, as well as A34 to H44 to complete this question.) 29 30 31 32 7,200 3,200 6,400 3,700 1,200 5,000 26,700 $9,300 C Planning Budget 80 $36,000 7,200 3,200 6,400 3,700 1,200 5,000 26,700 $9,300 >> 8,648 3,404 7,728 3,500 1,200 5,000 29,480 $10,080 D Activity Variances Variances 1,080 1,448 U 204 U U F Perfect Parties Birthday Party Division Flexible Budget Performance Report For the Month Ended June 30 Flexible Budget 92 $41,400 1,328 200 0 0 $5,400 F 2,780 U $780 480 U 960 E None None 0X None 0 X None 0 X None U >> F *333 8,280 3,680 7,360 4,255 x 1,380 x 5,750 x Revenue and Spending Variances $1,840 U 368 U 276 368 U 200 F G 0 X None 0 None U U H Actual Results 92 $39,560
Please show formulas for incorrect or unanswered cells. All information is in the picture. Thanks.
2 Perfect Parties, Inc, has several divisions. One division provides birthday parties at their facility. 3 Each party sold provides entertainment, decorations, food, and party favors for 10 children. 4 The bookkeeper has prepared a report comparing actual results for the month of June to budgeted result 5 21 Food costs, party supplies, and party worker wages are variable costs. 22 Administrative salaries, equipment depreciation, and rent are fixed costs. 23 24 Required: 25 Prepare a new report for June using the flexible budget approach. 26 27 Enter all variances as positive amounts. Leave no cells blank. 28 (Use cells A10 to E20 from the given information, as well as A34 to H44 to complete this question.)
