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The pizzeria's cost formulas appear below: Fixed Cost per Month Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Pizzas Deliveries Revenue Pizza ingredients Kitchen staff $ 6,110 $ 710 Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 730 $ 480 $ 2,070 $ 830 Actual Results 1,960 220 In November, the pizzeria budgeted for 1,860 pizzas at an average selling price of $17 per pizza and for 240 deliveries. Data concerning the pizzeria's actual results in November were as follows: $ 33,970 $ 9,010 $ 6,050 $935 $682 $ 1,006 Cost per Pizza $ 4.30 $480 $ 2,070 $850 $ 0.30 $ 0.15 Cost per Delivery $ 3.10 $ 1.30 Required: 1. Complete the flexible budget performance report for November. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero

The pizzeria's cost formulas appear below: Fixed Cost per Month Pizza ingredients Kitchen staff Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous Pizzas Deliveries Revenue Pizza ingredients Kitchen staff $ 6,110 $ 710 Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 730 $ 480 $ 2,070 $ 830 Actual Results 1,960 220 In November, the pizzeria budgeted for 1,860 pizzas at an average selling price of $17 per pizza and for 240 deliveries. Data concerning the pizzeria's actual results in November were as follows: $ 33,970 $ 9,010 $ 6,050 $935 $682 $ 1,006 Cost per Pizza $ 4.30 $480 $ 2,070 $850 $ 0.30 $ 0.15 Cost per Delivery $ 3.10 $ 1.30 Required: 1. Complete the flexible budget performance report for November. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero

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 has a small area for in-store dining as well as offers take-out and free home delivery services. The pizzeria's owner determined 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 Miscellaneous Pizzas Deliveries Revenue Pizza ingredients Kitchen staff $6,110 $ 710 Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 730 $ 480 $ 2,070 $830 Actual Results 1,960 220 Cost per Pizza $ 4.30 $ 33,970 $ 9,010 $ 6,050 $935 $682 $ 1,006 $480 $ 2,070 $ 850 $0.30 In November, the pizzeria budgeted for 1,860 pizzas at an average selling price of $17 per pizza and for 240 deliveries. Data concerning the pizzeria's actual results in November were as follows: $0.15 Cost per Delivery $ 3.10 $ 1.30 Required: 1. Complete the flexible budget performance report for November. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero
Transcribed Image Text:Milano Pizza has a small area for in-store dining as well as offers take-out and free home delivery services. The pizzeria's owner determined 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 Miscellaneous Pizzas Deliveries Revenue Pizza ingredients Kitchen staff $6,110 $ 710 Utilities Delivery person Delivery vehicle Equipment depreciation Rent Miscellaneous $ 730 $ 480 $ 2,070 $830 Actual Results 1,960 220 Cost per Pizza $ 4.30 $ 33,970 $ 9,010 $ 6,050 $935 $682 $ 1,006 $480 $ 2,070 $ 850 $0.30 In November, the pizzeria budgeted for 1,860 pizzas at an average selling price of $17 per pizza and for 240 deliveries. Data concerning the pizzeria's actual results in November were as follows: $0.15 Cost per Delivery $ 3.10 $ 1.30 Required: 1. Complete the flexible budget performance report for November. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero
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