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please complete requirement 2 and also the 3 box lines above the graph for requirement 1

Data Review View Help UPDATES AVAILABLE Updates for Office are ready to be installed but first we need to close some apps 010 X Update now H M M N A D G 1 Flexible Budgets and Standard Cost Systems 2. Using Excel to prepare a flexible budget performance report 3 4 Pilchuck Company manufactures tote bags and has provided the following information for September 2018: A 5 6 Static Budget 9 Actual Results 7 Units 14,000 15,000 8 Sales Revenue 560,000 540,000 Variable Costs 294,000 262,500 10 Contribution Margin 266,000 277,500 11 Fixed Costs 109,000 122,000 12 Operating Income 157,000 155,500 13 Use the blue shaded areas on the ENTERANSWERS tab for inputs. 14 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. 15 16 17 Requirements Prepare a flexible budget performance report, including the heading. Use the ABS function when calculating 18 variances, and use the drop-down selections for ForU when describing the variances. 19 a 2 Calculate the Static Budget Variance for operating income, and label it as a F (favorable) or (unfavorable) variance. 20 21 22 Excel Skills 23 1 ABS function (Absolute Value) to calculate the variances. 24 2 Data validation to select a F (favorable) or U (unfavorable) variance hotel Instructions ENTERANSWERS Type here to search 1 1. Update now G A 1. Requirement 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 Columns For U For U Static Budget Units Column 1 Column 2 Col (1) - Col (3) Budget Actual Flexible Budget Amounts Results Variance per Unit 14,000 36.00 $ 560,000 $ 16,000 17.50 (294,000) $ 49,000 266,000 7,000 (109,000) $ 13,000 $ 157,000 20,000 Column 3 Column 4 Col (3) - Col (5) Flexible Sales Volume Budget Variance 14,000 $ 504,000 $ 36,000 245,000) 17,500 259,000 $ 18,500 (122,000) $ S 137,000 $ 18,500 ws cm Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income F F U F F F Inc 15,000 $ 540,000 (262,500) 277,500 (122,000) $ 155,500 U U Requirement 2 Calculate the Static Buriat Variance for onerating income and label it asa F (favorable or unfavorable variance Instructions ENTERANSWERS Type here to search o Et Home Insert Page Layout Formulas Data Review View Help UPDATES AVAILABLE Updates for Office tedy to be installed but first we need to close some apps, Update now PS X A Units 12 13 14 15 16 17 18 19 20 Requirement 2 21 Calculate the static Budget Variance for operating income, and label it as a F (favorable) or (unfavorable) 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 For U 27 28 29 30 HINTS 31 Cell Hint: 32 C13:C14, D12:017, 112:17 Use cell references to the values in the data table provided at the top of the Instructions worksheet for calculations. 33 E13:E17, H13:H17, D25 Use the function=ABS() to calculate the variances. 34 F13:F17, 113:117 | Do not choose the descriptions and leave cells blank if corresponding variances equal zero. 35 36 R7 Instructions ENTERANSWERS O E N Type here to search HE Data Review View Help UPDATES AVAILABLE Updates for Office are ready to be installed but first we need to close some apps 010 X Update now H M M N A D G 1 Flexible Budgets and Standard Cost Systems 2. Using Excel to prepare a flexible budget performance report 3 4 Pilchuck Company manufactures tote bags and has provided the following information for September 2018: A 5 6 Static Budget 9 Actual Results 7 Units 14,000 15,000 8 Sales Revenue 560,000 540,000 Variable Costs 294,000 262,500 10 Contribution Margin 266,000 277,500 11 Fixed Costs 109,000 122,000 12 Operating Income 157,000 155,500 13 Use the blue shaded areas on the ENTERANSWERS tab for inputs. 14 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. 15 16 17 Requirements Prepare a flexible budget performance report, including the heading. Use the ABS function when calculating 18 variances, and use the drop-down selections for ForU when describing the variances. 19 a 2 Calculate the Static Budget Variance for operating income, and label it as a F (favorable) or (unfavorable) variance. 20 21 22 Excel Skills 23 1 ABS function (Absolute Value) to calculate the variances. 24 2 Data validation to select a F (favorable) or U (unfavorable) variance hotel Instructions ENTERANSWERS Type here to search 1 1. Update now G A 1. Requirement 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 Columns For U For U Static Budget Units Column 1 Column 2 Col (1) - Col (3) Budget Actual Flexible Budget Amounts Results Variance per Unit 14,000 36.00 $ 560,000 $ 16,000 17.50 (294,000) $ 49,000 266,000 7,000 (109,000) $ 13,000 $ 157,000 20,000 Column 3 Column 4 Col (3) - Col (5) Flexible Sales Volume Budget Variance 14,000 $ 504,000 $ 36,000 245,000) 17,500 259,000 $ 18,500 (122,000) $ S 137,000 $ 18,500 ws cm Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income F F U F F F Inc 15,000 $ 540,000 (262,500) 277,500 (122,000) $ 155,500 U U Requirement 2 Calculate the Static Buriat Variance for onerating income and label it asa F (favorable or unfavorable variance Instructions ENTERANSWERS Type here to search o Et Home Insert Page Layout Formulas Data Review View Help UPDATES AVAILABLE Updates for Office tedy to be installed but first we need to close some apps, Update now PS X A Units 12 13 14 15 16 17 18 19 20 Requirement 2 21 Calculate the static Budget Variance for operating income, and label it as a F (favorable) or (unfavorable) 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 For U 27 28 29 30 HINTS 31 Cell Hint: 32 C13:C14, D12:017, 112:17 Use cell references to the values in the data table provided at the top of the Instructions worksheet for calculations. 33 E13:E17, H13:H17, D25 Use the function=ABS() to calculate the variances. 34 F13:F17, 113:117 | Do not choose the descriptions and leave cells blank if corresponding variances equal zero. 35 36 R7 Instructions ENTERANSWERS O E N Type here to search HE

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