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A D H M 1 1 Prepare a flexible budget performance report, including the heading. Use the ABS function when calculating variances, and use the drop-down selections for For 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 "o" in the appropriate cell and leave the drop-down to identify the variance as either For 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) 5.OWN 9 Column 1 Column 2 Column 3 Column 4 Columns 10 Col (1) Col (3) Col (3) Col (5) Budget Flexible Budget Flexible Sales Volume Amounts Actual Results Foru Variance 11 Variance For U Static Budget Budget per Unit 12 Units 13 Sales Revenue 14 Variable Costs 15 Contribution Martin 16 Fixed Costs 17 Operating Income 18 19 20 2 21 Calculate the Static Budget Variance for operating income, and label it as a Ffavorable) or Ufunfavorable variance 22 (Always use cell references and formulas where appropriate to receive full credit.) 23 24 Static Budget Variance for Operating Income (1). (5) 25 Amount: 26 Foru 27 28 29 30 HINTS Cell Hint: 32 C13:14, 12:017, 112:17 Use cell references to the values in the datatable provided at the top of the instructions worksheet for calculations 33 E13.617, H13:H17, 025 Use the function ABS() to calculate the variances 36 F13:F17, 113:17 | Do not choose the descriptions and leave cells blank if corresponding variances equal zero. 35

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