Please use the excel functions!! I am having a really hard time!!

Using Excel to Prepare a Static and Flexible Direct Labor Budget

Student Work Area

Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with

PROBLEM

cell references to the Problem area or work area as indicated. Use the IF function with cell references

Rooney Company provided the following information needed for the

to label as Favorable or Unfavorable

preparation of its static and flexible budget reports during January,

2022.

3

Direct labor rate per direct labor hour

Actual direct labor cost, January

Expected direct labor hours per month

Actual direct labor hours, January

20.00

206.000

10.000

10,400

Rooney Company

Static Direct Labor Budget Report

For the Month Ended January 31, 2022

Budget

Actual

Difference

Direct labor

Prepare the following budget reports for January 2022 using Excels'

6 IF function, and evaluate the usefulness of each report.

A static budget report

A flexible budget report

Rooney Company

Flexible Direct Labor Budget Report

For the Month Ended January 31, 2022

Budget

Actual

Difference

Direct labor

Which budget report is more useful?

budget does not provide a proper basis for evaluating performance

26

27

28

29

30

32

33

34

because the budget is

the hours actually worked.

budget provides a proper basis for evaluating performance

because the budget is

the hours actually worked.

Prepare the following budget roports for January 2022 using Excels' IF function, and evaluate the usefulness of each report. a. A statio budget report b. A fexible budget report