ORIGINAL PROBLEM DATA (1ST Excel File): CHECK FIGURES: Revenue and Spending Variance for Net Operating Income is $2631.50 Favorable. Activity Variance for Net Operating Income is $2,281.50 Unfavorable Lorenzo's Pizza is a neighborhood pizzeria with in-store dining, take-out, and delivery services. The restaurant has two cost drivers - number of pizzas sold and number of deliveries. The restaurant's cost formulas appear below: Ingredients Kitchen Staff Utilities Delivery Person Delivery Vehicle Equipment Depreciation Rent Miscellaneous Actual Results Revenue Ingredients Kitchen Staff Utilities Delivery Person Delivery Vehicle Equipment Depreciation Rent Miscellaneous Fixed Cost Pizzas Sold 2,110 Deliveries Made 190 $ 6,310.00 $ 810.00 Cost Per Pizza $ 4.20 $ 43,690.00 $ 10,810.00 $ 6,250.00 $ 985.00 $ 496.00 $ 1,026.00 $ 560.00 $ 2,270.00 $ 910.00 $ 0.30 $ 830.00 $ 560.00 $ 2,270.00 $ 930.00 $ 0.15 In July, the restaurant budgeted for 2,260 pizzas at an average selling price of $19.00 per pizza, and 160 deliveries. Data concerning the restaurant's actual results for July 2023 were as follows: Cost Per Delivery $ $ 3.10 1.20 REQUIRED: Prepare Flexible Budget Performance Report that show both revenue and spending variances as well as activity variances - variances between the planning budget and the flexible budget. You must include unfavorable or favorable indicators (U or F) for each line item and they must be created using a nested IF statement.

ORIGINAL PROBLEM DATA (sT Excel File): CHECK FIGURES: Revenue and Spending Variance for Net Operating Income is \$2631.50 Favorable. Activity Variance for Net Operating Income is $2,281.50 Unfavorable Lorenzo's Pizza is a neighborhood pizzeria with in-store dining, take-out, and delivery services. The restaurant has two cost drivers - number of pizzas sold and number of deliveries. The restaurant's cost formulas appear below: In July, the restaurant budgeted for 2,260 pizzas at an average selling price of $19.00 per pizza, and 160 deliveries. Data concerning the restaurant's actual results for July 2023 were as follows: Pizzas Sold 2,110 Deliveries Made 190 REQUIRED: Prepare Flexible Budget Performance Report that show both revenue and spending variances as well as activity variances - variances between the planning budget and the flexible budget. You must include unfavorable or favorable indicators ( U or F ) for each line item and they must be created using a nested IF statement