Use Microsoft$$ Excel$$showing all work and formulas$$to 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.

Mr$.$ Snow was extremely upset with the budget deficit. He immediately called you, the treasurer, to complain about the budget variance for the meal cost. He told you that the added dessert caused the meal cost to be $$4,810($$$25,110$ $$20,300)$ over budget. He added, $$I could expect a couple hundred dollars one way or the other, but several thousand is totally unacceptable. At the next budget meeting of the budget committee, I want you to explain what happened.$$