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How to complete the flexible budget performance report

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Reference no: EM132568949

Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining as well as offering take-out and free home delivery services. The pizzeria's owner has determined that the shop has two major cost drivers-the number of pizzas sold and the number of deliveries made.

The pizzeria's cost formulas appear below:

Fixed Cost per Month Cost per Pizza Cost per

Delivery Pizza ingredients $4.70

Kitchen staff$6,190

Utilities$750 $0.70

Delivery person $3.50

Delivery vehicle$770 $1.70

Equipment depreciation$512

Rent$2,150

Miscellaneous$870 $0.10

In November, the pizzeria budgeted for 1,980 pizzas at an average selling price of $13 per pizza and for 200 deliveries.

Data concerning the pizzeria's actual results in November appear below:

Actual Results

Pizzas 2,080

Deliveries 180

Revenue $27,730

Pizza ingredients $9,730

Kitchen staff $6,130

Utilities $955

Delivery person $630

Delivery vehicle $1,014

Equipment depreciation $512

Rent $2,150

Miscellaneous $874

Required:

Question 1: Complete the flexible budget performance report that shows both revenue and spending variances and activity variances for the pizzeria for November. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

Reference no: EM132568949

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