Please do not give solution in image format thanku Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining as well as offering take-out and free homedelivery services. The pizzeria's owner has determined that the shop has two major cost drivers-the number of pizzas sold and thenumber of deliveries made.The pizzeria's cost formulas appear below:Fixed Costper MonthPizza ingredientsKitchen staffUtilitiesDelivery personDelivery vehicleEquipment depreciationRentMiscellaneousPizzasDeliveriesRevenuePizza ingredientsKitchen staffUtilitiesDelivery personDelivery vehicleEquipment depreciationRent$ 6,170$ 740Miscellaneous$ 760$ 504$ 2,130$ 860ActualResults2,050170In November, the pizzeria budgeted for 1,950 pizzas at an average selling price of $20 per pizza and for 190 deliveries.Data concerning the pizzeria's actual results in November were as follows:$ 41,680$ 9,550$ 6,110$$ 950$ 5781,012$ 504Cost perPizza$ 4.60$ 2,130$868$ 0.60$ 0.20Cost perDelivery$ 3.40$ 1.60Required:1. Complete the flexible budget performance report that shows both revenue and spending variances and activity variances for thepizzeria for November. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for noeffect (i.e., zero variance). Input all amounts as positive values.) Required:1. Complete the flexible budget performance report that shows both revenue and spending variances and activity variances fpizzeria for November. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None'effect (i.e., zero variance). Input all amounts as positive values.)PizzasDeliveriesRevenueExpenses:Pizza ingredientsKitchen staffUtilitiesDelivery personDelivery vehicleEquipment depreciationRentMiscellaneousTotal expenseNet operating income$$ActualResultsMilano PizzaFlexible Budget Performance ReportFor the Month Ended November 30Revenue and SpendingVariances2,05017041,6809,5506,1109505781,0125042,13086821,70219,978FIFFFNoneFNoneNoneFFFFlexibleBudget$2,05017000Activity VariancesFUNoneUFFNoneNoneUUPlanningBudget$00

The variance seems to be the difference between the actual and budgeted results within the budgetary…

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 Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Pizzas Deliveries Revenue Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 6,170 $ 740 Required: $760 $ 504 $ 2,130 $ 860 Miscellaneous n November, the pizzeria budgeted for 1,950 pizzas at an average selling price of $20 per pizza and for 190 deliveries. Data concerning the pizzeria's actual results in November were as follows: Actual Results 2,050 170 Cost per Pizza $ 4.60 $ 41,680 $ 9,550 $ 6,110 $ 950 $578 $ 1,012 $ 504 $ 2,130 $868 $ 0.60 Cost per Delivery $0.20 $ 3.40 $ 1.60

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 Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Pizzas Deliveries Revenue Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 6,170 $ 740 Required: $760 $ 504 $ 2,130 $ 860 Miscellaneous n November, the pizzeria budgeted for 1,950 pizzas at an average selling price of $20 per pizza and for 190 deliveries. Data concerning the pizzeria's actual results in November were as follows: Actual Results 2,050 170 Cost per Pizza $ 4.60 $ 41,680 $ 9,550 $ 6,110 $ 950 $578 $ 1,012 $ 504 $ 2,130 $868 $ 0.60 Cost per Delivery $0.20 $ 3.40 $ 1.60

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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