Cicchetti Corporation uses customers served as its measure ofactivity. The following report compares the...

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Accounting

Cicchetti Corporation uses customers served as its measure ofactivity. The following report compares the planning budget to theactual operating results for the month of December:
CicchettiCorporation
Comparison of Actual Results to Planning Budget
For the Month Ended December 31
ActualResults PlanningBudget Variances
Customers served 38,000 34,000
Revenue ($4.6q) $ 175,100 $ 156,400 $ 18,700 F
Expenses:
Wages and salaries($36,100 + $1.4q) 91,400 83,700 7,700 U
Supplies ($0.7q) 26,000 23,800 2,200 U
Insurance($13,100) 13,400 13,100 300 U
Miscellaneous expense($6,100 + $0.4q) 22,550 19,700 2,850 U
Total expense 153,350 140,300 13,050 U
Net operatingincome $ 21,750 $ 16,100 $ 5,650 F

Required:

Prepare the company's flexible budget performance report forDecember. Select each variance as favorable (F), unfavorable (U) or"None".
Cicchetti Corporation
Flexible Budget Performance Report Part 1
For the Month Ended December 31
Actual Results Revenue and Spending Variances Flexible Budget
Customersserved
Expenses:
Totalexpenses 0 0 0
Net operating income
Cicchetti Corporation
Flexible Budget Performance Report Part 2
For the Month Ended December 31
Flexible Budget Activity Variances Planning Budget
Customersserved
Expenses:
Totalexpenses 0 0 0
Net operating income

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Cicchetti Corporation
Flexible Budget Performance Report Part 1
For the Month Ended December 31
	Actual Results	Revenue and Spending Variances		Flexible Budget
Customers served	38000			38000
Revenue(4.6q)	175100	300	F	174800
Expenses:
Wages and salaries ($36,100 + $1.4q)	91400	2100	U	89300
Supplies ($0.7q)	26000	600	F	26600
Insurance ($13,100)	13400	300	U	13100
Miscellaneous expense ($6,100 + $0.4q)	22550	1250	U	21300

Total expenses	153350	3050	U	150300
Net operating income	21750	2750	U	24500

Cicchetti Corporation
Flexible Budget Performance Report Part 2
For the Month Ended December 31
	Flexible Budget	Activity Variances		Planning Budget
Customers served	38000			34000
	174800	18400	F	156400
Expenses:
Wages and salaries ($36,100 + $1.4q)	89300	5600	U	83700
Supplies ($0.7q)	26600	2800	U	23800
Insurance ($13,100)	13100	0	None	13100
Miscellaneous expense ($6,100 + $0.4q)	21300	1600	U	19700

Total expenses	150300	10000	U	140300
Net operating income	24500	8400	F	16100

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In: AccountingCicchetti Corporation uses customers served as its measure ofactivity. The following report compares the planning...Cicchetti Corporation uses customers served as its measure ofactivity. The following report compares the planning budget to theactual operating results for the month of December:CicchettiCorporationComparison of Actual Results to Planning BudgetFor the Month Ended December 31ActualResultsPlanningBudgetVariancesCustomers served38,00034,000Revenue ($4.6q)$175,100$156,400$18,700FExpenses:Wages and salaries($36,100 + $1.4q)91,40083,7007,700USupplies ($0.7q)26,00023,8002,200UInsurance($13,100)13,40013,100300UMiscellaneous expense($6,100 + $0.4q)22,55019,7002,850UTotal expense153,350140,30013,050UNet operatingincome$21,750$16,100$5,650FRequired:Prepare the company's flexible budget performance report forDecember. Select each variance as favorable (F), unfavorable (U) or"None".Cicchetti CorporationFlexible Budget Performance Report Part 1For the Month Ended December 31Actual ResultsRevenue and Spending VariancesFlexible BudgetCustomersservedExpenses:Totalexpenses000Net operating incomeCicchetti CorporationFlexible Budget Performance Report Part 2For the Month Ended December 31Flexible BudgetActivity VariancesPlanning BudgetCustomersservedExpenses:Totalexpenses000Net operating income

CicchettiCorporation Comparison of Actual Results to Planning Budget For the Month Ended December 31
	ActualResults		PlanningBudget		Variances
Customers served		38,000		34,000
Revenue ($4.6q)	$	175,100	$	156,400	$	18,700	F
Expenses:
Wages and salaries($36,100 + $1.4q)		91,400		83,700		7,700	U
Supplies ($0.7q)		26,000		23,800		2,200	U
Insurance($13,100)		13,400		13,100		300	U
Miscellaneous expense($6,100 + $0.4q)		22,550		19,700		2,850	U
Total expense		153,350		140,300		13,050	U
Net operatingincome	$	21,750	$	16,100	$	5,650	F