Question

The Excel worksheet form that appears below is to be used to recreate the Review Problem to Harralds Fish House. Download th

Must be solved in terms of formulas. PLZ help

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Revenue and spending variance=Flexible budget-Actual results
For revenue and net operating income
If the answer is positive, variance is unfavorable.Otherwise favorable
For expenses,
If the answer is positive, variance is favorable.Otherwise unfavorable
Activity variance=Planning budget-Flexible budget
For revenue and net operating income
If the answer is positive, variance is unfavorable.Otherwise favorable
For expenses,
If the answer is positive, variance is favorable.Otherwise unfavorable
Activity variance for Revenue=$ 1600 Unfavorable
Planned meals served=1800
Actual meals served=1700
This 100 meals difference caused a decrease in expected revenue of $ 1600
Spending variance for the cost of ingredients=$ 60 U
Actual cost=$ 11110
Cost as per flexible budget=$ 11050
Here,actual cost is more than expected and it cause an unfavorable variance of $ 60
Add a comment
Know the answer?
Add Answer to:
Must be solved in terms of formulas. PLZ help The Excel worksheet form that appears below...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Chapter 9: Applying Excel $16.50 9 $6.25 9 Data Revenue Cost of ingredients Wages and salaries...

    Chapter 9: Applying Excel $16.50 9 $6.25 9 Data Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $0.20 g $10,400 $800 $2,200 $600 $0.80 g Actual results: Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $27.920 $11,110 $10,130 $1.080 $2,200 $2,240 Planning budget activity Actual activity 1.800 meals served 1,700 meals served Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible...

  • Chapter 9 Applying Excel (B) Saved Requirement 2: Revise the data in your worksheet to reflect...

    Chapter 9 Applying Excel (B) Saved Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: 10 B C D E points 1 Chapter 9: Applying Excel eBook 3 Print $ $ 16.50 6.25 References 4 5 6 7 8 9 Data Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $ $ $ + $ 0.209 10,400 800 2,200 600 + $ 0.80 9 10 11 Actual results: 12...

  • Revise the data in your worksheet to reflect the results for the subsequent period as shown below: Chapter 9:...

    Revise the data in your worksheet to reflect the results for the subsequent period as shown below: Chapter 9: Applying Excel Data Revenue $16.50 q Cost of ingredients $6.25 q Wages and salaries $10,400 Utilities $800 + $0.20 q Rent $2,200 Miscellaneous $600 + $0.80 q Actual results: Revenue $29,445 Cost of ingredients $11,425 Wages and salaries $10,605 Utilities $1,190 Rent $2,200 Miscellaneous $2,045 Planning budget activity 1,700 meals served Actual activity 1,800 meals served a. What is the activity...

  • revise the data in your worksheet to reflect the results for the subsequent period as shown...

    revise the data in your worksheet to reflect the results for the subsequent period as shown below: a. What is the activity variance for revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). b. What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance))....

  • Revise the data in your worksheet to reflect the results for the subsequent period as shown...

    Revise the data in your worksheet to reflect the results for the subsequent period as shown below: a. What is the activity variance for revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). b. What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance))....

  • Harrald’s Fish House is a family-owned restaurant that specializes in Scandinavian-style seafood. Data concerning the restaurant’s...

    Harrald’s Fish House is a family-owned restaurant that specializes in Scandinavian-style seafood. Data concerning the restaurant’s monthly revenues and costs appear below (q refers to the number of meals served): Formula Revenue .............................................. $16.50q Cost of ingredients .............................. $6.25q Wages and salaries ............................ $10,400 Utilities ................................................ $800 + $0.20q Rent .................................................... $2,200 Miscellaneous ..................................... $600 + $0.80q Required: 1. Prepare the restaurant’s planning budget for April assuming that 1,800 meals are served, what is the net operating income? 2.  Assume that...

  • Dixie Queen is a family owned restaurant that specialized in southern style seafood. Data concerning the...

    Dixie Queen is a family owned restaurant that specialized in southern style seafood. Data concerning the restaurant's monthly revenue and costs appears as below (q refers to number of meals being served): Formula Revenue $16.50q Cost Of Ingredients $6.25q wages and salaries $10,400 utilities $800 + $0.20q rent $2,200 miscellaneous $600 + $0.80q The restaurant's planned to serve 1800 meals in April. The restaurant's actual result of April shows as below for 1700 meals that were served: Revenue $27,920 Cost...

  • Chapter 9 Excel - Managerial ACC Need formulas! Budgets

    Required informationSkip to question  The Chapter 9 Form worksheet is to be used to create your own worksheet version of the Review Problem example in the text.Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell B30 enter the formula "= B20". Notes: In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell C31 would be "=ABS(E31−B31)". Cells...

  • 9-2 Exercise 9-2 Activity Variances [LO9-2] Flight Cafe prepares in-flight meals for airlines in its kitchen...

    9-2 Exercise 9-2 Activity Variances [LO9-2] Flight Cafe prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below: Flight Cafe Planning Budget For the Month Ended July 31 Budgeted meals (a) $117, ese 46,80 11.50 Revenue (14.509) Expenses: Raw waterials ($1.889) Wages and salaries (56,400 + $.209) Utilities (51,800 $0.05) Facility rent ($3,400) Insurance ($2,000) Miscellaneous ($500 $0.109) Total expense Net operating income 3,40 2.00 70.100 In July,...

  • Chapter 9 Exercises Saved Flight Café Planning Budget For the Month Ended July 31 Budgeted meals...

    Chapter 9 Exercises Saved Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (9) 24,000 20 points $93,600 eBook Revenue ($3.909) Expenses : Raw materials ($2.309) Wages and salaries ($6,300 + $0.209) Utilities ($2,000 + $0.059) Facility rent ($3,200) Insurance ($2,300) Miscellaneous ($500 + $0.109) Total expense Net operating income 55,200 11,100 3,200 3,200 2,300 2,900 Hint Ask 77,900 $ 15,700 Print In July, 25,000 meals were actually served. The company's flexible budget for this level of...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT