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ect (i.6., zero variance). Input all amounts as positive values.) Pizzas Deliveries Revenue Expenses Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Total expense Net operating income $ S Actual Results Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 2,110 190 30,240 9,910 6,150 960 494 1,016 520 2,170 880 22,100 8,140 Flexible Budget Planning Budget

ect (i.6., zero variance). Input all amounts as positive values.) Pizzas Deliveries Revenue Expenses Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Total expense Net operating income $ S Actual Results Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 2,110 190 30,240 9,910 6,150 960 494 1,016 520 2,170 880 22,100 8,140 Flexible Budget Planning Budget

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 Cont per Month Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 6,210 $ 760 Pizzas Deliverien Revenue Pizza ingredienis Kitchen staff Utilities Delivery person Delivery vehicle. Equipment, depreciation Rent Miscellaneous $ 700 $ 520 $ 2,170 $ 880 $ 0.20 In November, the pizzeria budgeted for 2,010 pizzas at an average selling price of $14 per pizza and for 210 deliveries. Data concerning the pizzeria's actual results in November were as follows: Actual Results 2,110 190 $ 30,240 $9,910 $ 6,150 $.960 $494 $ 1,016 $520 Cost per Pizza $4.80 $ 0.80 $ 2,170 $880 Cost per Delivery $ 2.60 $ 1.80 Required: 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
Transcribed Image Text: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 Cont per Month Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 6,210 $ 760 Pizzas Deliverien Revenue Pizza ingredienis Kitchen staff Utilities Delivery person Delivery vehicle. Equipment, depreciation Rent Miscellaneous $ 700 $ 520 $ 2,170 $ 880 $ 0.20 In November, the pizzeria budgeted for 2,010 pizzas at an average selling price of $14 per pizza and for 210 deliveries. Data concerning the pizzeria's actual results in November were as follows: Actual Results 2,110 190 $ 30,240 $9,910 $ 6,150 $.960 $494 $ 1,016 $520 Cost per Pizza $4.80 $ 0.80 $ 2,170 $880 Cost per Delivery $ 2.60 $ 1.80 Required: 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
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.) Pizzas Deliveries Revenue Expenses: Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Total expense Net operating income $ $ Actual Results Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 2,110 190 30,240 9,910 6,150 960 494 1,016 520 2,170 880 22,100 8,140 Flexible Budget Planning Budget
Transcribed Image Text: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.) Pizzas Deliveries Revenue Expenses: Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Total expense Net operating income $ $ Actual Results Milano Pizza Flexible Budget Performance Report For the Month Ended November 30 2,110 190 30,240 9,910 6,150 960 494 1,016 520 2,170 880 22,100 8,140 Flexible Budget Planning Budget
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