PLEASE SHOW CELL REFERENCES

1) Prepare a flexible budget performance report, including the heading. Use the ABS function when calculating variances, and use the drop-down selections for F or U when describing the variances. Note: start with calculating the budget amounts, then calculate variances and choose appropriate descriptions of the variances. (For variances with a zero amount, make sure to include the result of "0" in the appropriate cell and leave the drop-down to identify the variance as either F or U blank.)

2) Calculate the Static Budget Variance for operating income, and label it as an F (favorable) or U (unfavorable) variance.

Prepare a flexible budget performance report, including the heading. Use the ABS function when calculating variances, and use the dropdown selections for F or U when describing the variances. Note: start with calculating the budget amounts, then calculate variances and choose appropriate descriptions of the variances. (For variances with a zero amount, make sure to include the result of "0" in the appropriate cell and leave the drop-down to identify the variance as either F or U blank.) Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong. Requirement 2 Calculate the Static Budget Variance for operating income, and label it as a F (favorable) or U (unfavorable) variance. (Always use cell references and formulas where appropriate to receive full credit.)