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Actual results for february appear below prepare a flexible

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Pie Guys pizzeria is owned and operated by three brothers. Data concerning the pizzeria's monthly revenues and costs appear below (q refers to the number of pizzas served)


 Formula
Revenue $14q
cost of ingredients $3.50q
rent $2,500
utilities $600+ $0.20q
wages $7,500
miscellaneous $300+ $.50q

Actual results for February appear below. Prepare a flexible budget performance report for the pizzeria for February for 1,200 pizzas.

revenue $17,000
cost of ingredients 4,150
rent 2,500
utilities 908
wages 7,600
miscellaneous 850

Required:

  1. prepare a budget for 1,300 pizzas (this is the static budget).
  2. prepare a budget for 1,200 pizzas (this is the flexible budget).
  3. Compute the activity variances between the two budgets and revenue/spending variances between the actual data and the flexible budget. Also indicate whether the variance is favorable or unfavorable.

Reference no: EM13568356

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