Chapter 9 - Extra Credit Problem (Homework) 12 pts For question 1 please put your answers in Performance Report Format Use your own paper (prefer you use landscape to fit all data) Use Exhibit 9-8 in your textbook for the required format 1. 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): Revenue Cost of ingredients Rent Utilities Wages $12q $3.50q $2,500 S600+$0.20q $7,500 Part (a) Prepare the pizzeria's planning budget for February assuming that 1500 pizzas are served Part (b) Assume that 1,600 pizzas were served in February. Prepare a flexible budget for this level of activity. Part (c) Actual results for February appear below. Prepare a flexible budget performance report for the pizzeria for February. Revenue Cost of ingredients Rent Utilities Wages $18,800 5,200 2,500 928 7,200 Answer questions 2-4 using your textbook. 2. What are the characteristics of a planning budget