• Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget.
• Compute flexible budget variances by comparing the flexible budget with the actual results.

Use Excelshowing all work and formulasto complete the following: Prepare a flexible budget. Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget. Compute flexible budget variances by comparing the flexible budget with the actual results. For this assignment, refer to the scenario located in \"Problems - Series A,\" section 8-19A of Ch. 8, \"Performance Evaluation,\" of Fundamentals of Managerial Accounting Concepts. Master Budget Operating Funds allocated Expenses Variable Costs Meals 25,290 Cost per person X number of individuals expected (1,620 X $14.50) Cost per invitation X number of invitations expected to be mailed (3,000X $0.49) Postage Fixed Costs Facility Printing Decorations Speaker's gif Publicity Total Expenses Budget surplus ( Deficit) 20,300 1,470 $ 1,000 950 840 130 600 25,920 - Actual Operating Funds allocated Expenses Variable Costs 25,290 Meals (1,620 X $15.50) Postage Fixed Costs Facility Printing Decorations Speaker's gif Publicity Total Expenses Budget surplus ( Deficit) (4,000X $0.49) $ 25,110 -4810 1,960 -490 1,500 950 840 130 600 31,090 (5,800) 500 U